MercadoLibre, Inc. $MELI Shares Acquired by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 257.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,062 shares of the company’s stock after acquiring an additional 765 shares during the quarter. MercadoLibre makes up approximately 1.0% of Fairtree Asset Management Pty Ltd’s investment portfolio, making the stock its 29th largest position. Fairtree Asset Management Pty Ltd’s holdings in MercadoLibre were worth $2,139,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in MercadoLibre by 803.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the last quarter. Flossbach Von Storch SE boosted its holdings in MercadoLibre by 1,669.4% in the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after purchasing an additional 171,449 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares during the period. Wellington Management Group LLP grew its stake in shares of MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock valued at $1,153,911,000 after buying an additional 109,228 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of MercadoLibre by 29.0% during the 3rd quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock worth $976,846,000 after buying an additional 93,854 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Benchmark cut their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research report on Wednesday, May 13th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research note on Friday, May 8th. Finally, Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Up 0.6%

MercadoLibre stock opened at $1,594.86 on Wednesday. The company has a market capitalization of $80.86 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The firm has a 50 day moving average price of $1,727.23 and a 200 day moving average price of $1,933.17.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $9.74 earnings per share. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. Research analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.