Atika Capital Management LLC Cuts Stock Position in MercadoLibre, Inc. $MELI

Atika Capital Management LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,510 shares of the company’s stock after selling 1,437 shares during the quarter. MercadoLibre comprises 1.0% of Atika Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Atika Capital Management LLC’s holdings in MercadoLibre were worth $7,798,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Brown Advisory Inc. lifted its position in shares of MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after buying an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after buying an additional 1,430 shares during the last quarter. TIAA Trust National Association raised its stake in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares during the period. Deepwater Asset Management LLC raised its stake in MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas lifted its holdings in MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after acquiring an additional 6,200 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 0.0%

NASDAQ:MELI opened at $1,798.70 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock has a market cap of $91.19 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 1.11 and a beta of 1.35. The business has a fifty day moving average of $1,700.85 and a 200-day moving average of $1,815.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.74 earnings per share. Equities analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on MELI shares. Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. UBS Group reduced their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

About MercadoLibre

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.