Foxhaven Asset Management LP Has $371.40 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Foxhaven Asset Management LP increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,412 shares of the company’s stock after purchasing an additional 23,174 shares during the period. MercadoLibre makes up approximately 10.0% of Foxhaven Asset Management LP’s portfolio, making the stock its 2nd biggest holding. Foxhaven Asset Management LP’s holdings in MercadoLibre were worth $371,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after buying an additional 10,272 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of MercadoLibre by 123.1% in the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after acquiring an additional 16 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of MercadoLibre by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the company’s stock valued at $7,181,000 after purchasing an additional 36 shares in the last quarter. Hilltop National Bank grew its holdings in shares of MercadoLibre by 82.1% during the 4th quarter. Hilltop National Bank now owns 102 shares of the company’s stock valued at $173,000 after purchasing an additional 46 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in MercadoLibre by 1,900.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 60 shares of the company’s stock worth $102,000 after purchasing an additional 57 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Bank of America raised their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Barclays raised their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Benchmark downgraded shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,504.67.

MercadoLibre Trading Up 1.8 %

NASDAQ:MELI opened at $2,452.53 on Friday. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,501.00. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $2,081.98 and a 200-day moving average price of $1,982.42. The stock has a market cap of $124.34 billion, a price-to-earnings ratio of 65.05, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the firm posted $6.78 EPS. The business’s revenue was up 37.0% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.