Pictet Asset Management Holding SA Decreases Stock Holdings in MercadoLibre, Inc. $MELI

Pictet Asset Management Holding SA decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,847 shares of the company’s stock after selling 8,689 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.29% of MercadoLibre worth $257,090,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre during the fourth quarter worth about $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter valued at about $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,675.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The business has a fifty day moving average of $1,687.25 and a 200-day moving average of $1,843.28. The stock has a market cap of $84.93 billion, a price-to-earnings ratio of 44.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the company posted $9.74 EPS. The business’s quarterly revenue was up 49.0% on a year-over-year basis. As a group, analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group cut their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.