Alkeon Capital Management LLC Increases Stock Position in MercadoLibre, Inc. $MELI

Alkeon Capital Management LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,499 shares of the company’s stock after acquiring an additional 20,000 shares during the period. MercadoLibre accounts for about 1.0% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Alkeon Capital Management LLC owned about 0.47% of MercadoLibre worth $628,575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Brooklyn Investment Group increased its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of MercadoLibre in the 1st quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter worth about $29,000. Saudi Central Bank bought a new stake in shares of MercadoLibre in the 1st quarter worth $35,000. Finally, McIlrath & Eck LLC increased its holdings in shares of MercadoLibre by 375.0% in the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock worth $37,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% of the company’s stock.

MercadoLibre Trading Down 0.2%

MELI opened at $2,015.89 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $102.21 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 1.45 and a beta of 1.42. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a fifty day moving average price of $2,121.14 and a 200-day moving average price of $2,316.57.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter last year, the firm earned $7.83 EPS. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. Barclays upped their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. UBS Group dropped their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Susquehanna decreased their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Wedbush boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,848.82.

MercadoLibre Profile

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.