ARK Investment Management LLC Has $56.78 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

ARK Investment Management LLC lowered its stake in 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 institutional investor owned 36,129 shares of the company’s stock after selling 1,744 shares during the period. ARK Investment Management LLC owned 0.07% of MercadoLibre worth $56,778,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Assenagon Asset Management S.A. lifted its holdings in shares of MercadoLibre by 74.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 89,273 shares of the company’s stock worth $140,296,000 after purchasing an additional 38,176 shares during the period. Meyer Handelman Co. acquired a new position in shares of MercadoLibre during the fourth quarter valued at about $220,000. Armstrong Advisory Group Inc. grew its holdings in shares of MercadoLibre by 1,000.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 55 shares of the company’s stock valued at $86,000 after buying an additional 50 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in MercadoLibre by 42.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 421 shares of the company’s stock worth $662,000 after purchasing an additional 125 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in MercadoLibre by 16.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,367 shares of the company’s stock worth $3,720,000 after purchasing an additional 330 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.0 %

NASDAQ:MELI opened at $1,522.65 on Thursday. The firm has a market cap of $77.20 billion, a P/E ratio of 77.92, a P/E/G ratio of 1.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a 50-day simple moving average of $1,656.29 and a two-hundred day simple moving average of $1,508.33.

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

Wall Street Analysts Forecast Growth

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