ARK Investment Management LLC Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

ARK Investment Management LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,129 shares of the company’s stock after selling 1,744 shares during the period. ARK Investment Management LLC’s holdings in MercadoLibre were worth $56,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Synergy Financial Group LTD grew its position in shares of MercadoLibre by 0.5% during the third quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock worth $2,030,000 after buying an additional 8 shares in the last quarter. Gateway Advisory LLC grew its position in shares of MercadoLibre by 1.9% during the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock worth $545,000 after buying an additional 8 shares in the last quarter. Contravisory Investment Management Inc. grew its position in shares of MercadoLibre by 6.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after buying an additional 8 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of MercadoLibre by 32.1% during the third quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock worth $47,000 after buying an additional 9 shares in the last quarter. Finally, IMA Wealth Inc. grew its position in shares of MercadoLibre by 1.0% during the second quarter. IMA Wealth Inc. now owns 943 shares of the company’s stock worth $1,117,000 after buying an additional 9 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,522.65 on Thursday. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The business has a 50 day simple moving average of $1,656.29 and a 200-day simple moving average of $1,508.33. The stock has a market capitalization of $77.20 billion, a PE ratio of 77.92, a price-to-earnings-growth ratio of 1.01 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the company earned $3.25 EPS. MercadoLibre’s revenue for the quarter was up 42.0% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 36.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup lowered their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday. Susquehanna upped their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. Finally, Barclays boosted their price objective on MercadoLibre from $1,900.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $1,817.86.

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.