Gilder Gagnon Howe & Co. LLC Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Gilder Gagnon Howe & Co. LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,167 shares of the company’s stock after selling 6,316 shares during the quarter. MercadoLibre makes up approximately 1.5% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 20th largest holding. Gilder Gagnon Howe & Co. LLC owned about 0.13% of MercadoLibre worth $88,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its holdings in shares of MercadoLibre by 0.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,077 shares of the company’s stock valued at $1,420,000 after acquiring an additional 8 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of MercadoLibre by 0.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,224 shares of the company’s stock valued at $1,613,000 after acquiring an additional 9 shares during the last quarter. Allworth Financial LP increased its holdings in shares of MercadoLibre by 32.1% in the 1st quarter. Allworth Financial LP now owns 37 shares of the company’s stock valued at $49,000 after acquiring an additional 9 shares during the last quarter. Huntington National Bank increased its holdings in shares of MercadoLibre by 28.6% in the 4th quarter. Huntington National Bank now owns 45 shares of the company’s stock valued at $38,000 after acquiring an additional 10 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of MercadoLibre by 0.9% in the 1st quarter. AdvisorNet Financial Inc now owns 1,144 shares of the company’s stock valued at $1,508,000 after acquiring an additional 10 shares during the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TheStreet upgraded MercadoLibre from a “c+” rating to a “b-” rating in a report on Wednesday, September 6th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,700.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $1,400.00 to $1,650.00 in a research note on Friday, September 1st. UBS Group upped their price objective on MercadoLibre from $1,600.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Finally, Wedbush began coverage on MercadoLibre in a research report on Monday, August 21st. They set an “outperform” rating and a $1,500.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,645.00.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $14.31 during trading on Tuesday, hitting $1,408.62. The stock had a trading volume of 54,772 shares, compared to its average volume of 509,651. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.25. The firm has a market cap of $70.56 billion, a P/E ratio of 95.24, a PEG ratio of 1.49 and a beta of 1.51. The business has a fifty day moving average of $1,259.71 and a two-hundred day moving average of $1,249.21. MercadoLibre, Inc. has a fifty-two week low of $754.76 and a fifty-two week high of $1,451.56.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 2nd. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.13 by $1.03. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.27 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.23%. MercadoLibre’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 20.56 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.