Franklin Resources Inc. Sells 37,383 Shares of MercadoLibre, Inc. $MELI

Franklin Resources Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,619 shares of the company’s stock after selling 37,383 shares during the quarter. Franklin Resources Inc. owned 0.75% of MercadoLibre worth $766,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Curio Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $30,000. Holos Integrated Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $32,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of MercadoLibre during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. UBS Group decreased their price target on shares of 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. Citigroup lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,607.80 on Monday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $81.52 billion, a price-to-earnings ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $1,720.81 and a 200 day simple moving average of $1,886.65.

MercadoLibre (NASDAQ:MELI) last released 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the firm posted $9.74 earnings per share. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. On average, analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.