MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,057 shares of the company’s stock after selling 1,500 shares during the period. Lazard Asset Management LLC’s holdings in MercadoLibre were worth $57,912,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Light Street Capital Management LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $13,503,000. Jacobs Levy Equity Management Inc. grew its stake in shares of MercadoLibre by 16.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,304 shares of the company’s stock worth $17,521,000 after purchasing an additional 1,459 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 422,452 shares of the company’s stock worth $718,428,000 after purchasing an additional 6,278 shares during the last quarter. JARISLOWSKY FRASER Ltd grew its stake in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock worth $5,525,000 after purchasing an additional 987 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its stake in shares of MercadoLibre by 569.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,031 shares of the company’s stock worth $1,753,000 after purchasing an additional 877 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $2,504.61 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market cap of $126.98 billion, a P/E ratio of 66.44, a P/E/G ratio of 1.12 and a beta of 1.61. The firm has a 50 day simple moving average of $2,089.82 and a 200 day simple moving average of $1,984.71. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,520.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same period last year, the company posted $6.78 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on MELI shares. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a report on Tuesday, April 15th. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,504.67.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.