Pictet North America Advisors SA Has $15.52 Million Stake in MercadoLibre, Inc. $MELI

Pictet North America Advisors SA increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,639 shares of the company’s stock after purchasing an additional 299 shares during the quarter. MercadoLibre comprises about 1.5% of Pictet North America Advisors SA’s portfolio, making the stock its 23rd biggest position. Pictet North America Advisors SA’s holdings in MercadoLibre were worth $15,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC boosted its position in MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares during the last quarter. Lavaca Capital LLC raised its position in shares of MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after acquiring an additional 1,065,530 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of MercadoLibre by 21.2% during 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 valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. Schroder Investment Management Group boosted its holdings in MercadoLibre by 16.6% in the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after acquiring an additional 74,201 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in MercadoLibre by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock valued at $709,535,000 after acquiring an additional 9,474 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. UBS Group dropped their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Citigroup reduced their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Finally, Susquehanna lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Stock Down 2.0%

MercadoLibre stock opened at $1,973.70 on Friday. The firm has a market capitalization of $100.07 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 1.00 and a beta of 1.42. The company’s 50 day simple moving average is $2,076.67 and its 200 day simple moving average is $2,263.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the company posted $7.83 EPS. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Insider Activity at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,136 shares of company stock worth $2,308,788 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

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.