Sands Capital Management LLC Sells 98,467 Shares of MercadoLibre, Inc. $MELI

Sands Capital Management LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 16.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 513,532 shares of the company’s stock after selling 98,467 shares during the quarter. MercadoLibre accounts for approximately 3.9% of Sands Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Sands Capital Management LLC’s holdings in MercadoLibre were worth $1,342,183,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the last quarter. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after buying an additional 96,283 shares in the last quarter. Generation Investment Management LLP boosted its position in shares of MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after acquiring an additional 16,878 shares during the period. Finally, Schroder Investment Management Group lifted its stake in MercadoLibre by 16.6% in the 2nd quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after purchasing an additional 74,201 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $2,115.91 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a 50 day simple moving average of $2,169.36 and a two-hundred day simple moving average of $2,341.35. The firm has a market cap of $107.27 billion, a P/E ratio of 51.63, a PEG ratio of 1.56 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the prior year, the firm posted $7.83 earnings per share. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. Citigroup lowered their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. UBS Group reduced their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Morgan Stanley raised their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Susquehanna lowered their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Finally, Benchmark dropped their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

About MercadoLibre

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.