MercadoLibre, Inc. $MELI is Ashoka WhiteOak Capital Pte Ltd’s 5th Largest Position

Ashoka WhiteOak Capital Pte Ltd grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,870 shares of the company’s stock after acquiring an additional 400 shares during the quarter. MercadoLibre comprises about 2.6% of Ashoka WhiteOak Capital Pte Ltd’s holdings, making the stock its 5th largest position. Ashoka WhiteOak Capital Pte Ltd’s holdings in MercadoLibre were worth $4,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Twin Tree Management LP acquired a new position in MercadoLibre during the first quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $29,000. Saudi Central Bank purchased a new stake in shares of MercadoLibre during the 1st quarter valued at $35,000. McIlrath & Eck LLC grew its stake in shares of MercadoLibre by 375.0% during the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after buying an additional 15 shares during the period. Finally, Highline Wealth Partners LLC increased its holdings in shares of MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock worth $2,308,788 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,005.71 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a fifty-two week low of $1,693.01 and a fifty-two week high of $2,645.22. The business has a 50 day moving average price of $2,088.89 and a two-hundred day moving average price of $2,275.95. The firm has a market cap of $101.69 billion, a PE ratio of 48.94, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter last year, the company posted $7.83 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MELI shares. Cantor Fitzgerald reduced their target price 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. Barclays upped their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Thursday, December 4th. Benchmark decreased their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Susquehanna cut their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,842.94.

MercadoLibre 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.