MercadoLibre (MELI.US) surpasses expectations in performance, driving stock price to a new high. CEO takes advantage of the opportunity to cash out $330 million.

After the stock price soared to a historic high following the release of better-than-expected performance, Marcos Galperin, co-founder and CEO of Latin American e-commerce platform MercadoLibre (MELI.US), sold some of his shares in the company. According to documents filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday, Galperin sold 150,000 shares through his Meliga No. 1 Limited Partnership, cashing out $329.6 million. As the largest company in Latin America by market value, this e-commerce and fintech giant is currently valued at $111 billion. Last week, MercadoLibre announced record quarterly revenue and profits, driving its stock price to a historic high. According to the Bloomberg Billionaires Index, Galperin's personal net worth has reached $9.8 billion, and this share sale is his first since August of last year. A company spokesperson declined to comment on the share sale.