Jennison Associates Reduces $80M in MercadoLibre, Inc. ($MELI)
Key Points
- Jennison Associates changed its MercadoLibre, Inc. ($MELI) stake by 13.8% last quarter, cutting to 318,708 shares worth $501.33 million.
- Wall Street's consensus rating on $MELI is Buy and an average price target of $2,216.96.
- $MELI last traded around $1,573.00.
Jennison Associates reduced its position in MercadoLibre, Inc. ($MELI) by 13.8% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,708 shares of MercadoLibre, Inc. after selling 51,088 shares during the quarter. Jennison Associates's holdings in MercadoLibre, Inc. were worth $501.33 million as of its most recent filing.
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About MercadoLibre, Inc.
MercadoLibre, Inc. operates online commerce platforms in Brazil, Mexico, Argentina, and internationally. The company operates Mercado Libre Marketplace, an online commerce platform that can be accessed through mobile app or website; and Mercado Pago, a financial technology solution platform, which offers comprehensive set of financial technology services to users and other users of its e-commerce platform. It also provides Mercado Fondo that allows users to invest funds deposited in their Mercado Pago accounts; Mercado Credito, which grants loans and obtains better funding alternatives; and Mercado Mercado Envios that facilitates the shipping of goods from the Company and sellers to buyers. In addition, the company provides Mercado Libre Classifieds, where users can list vehicles, properties, and services; Mercado Ads, an advertising platform, which enables retailers and brands to promote their products and services on the platform. MercadoLibre, Inc. was incorporated in 1999 and is headquartered in Montevideo, Uruguay.
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