William Blair Investment Management LLC Has $527.08 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

William Blair Investment Management LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,723 shares of the company’s stock after selling 42,253 shares during the period. MercadoLibre accounts for about 1.4% of William Blair Investment Management LLC’s holdings, making the stock its 8th largest holding. William Blair Investment Management LLC owned 0.63% of MercadoLibre worth $527,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. First PREMIER Bank purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $36,000. Scarborough Advisors LLC bought a new stake in MercadoLibre in the 4th quarter worth about $36,000. Finally, Financial Connections Group Inc. purchased a new position in MercadoLibre in the 2nd quarter worth about $36,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MELI shares. Barclays lifted their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald started coverage on MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target on the stock. Citigroup upped their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, Susquehanna boosted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,122.37 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The business has a 50-day moving average price of $1,860.84 and a 200-day moving average price of $1,672.76. The firm has a market cap of $107.60 billion, a price-to-earnings ratio of 94.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, equities research analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

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.