MercadoLibre, Inc. $MELI Stock Position Boosted by Dragoneer Investment Group LLC

Dragoneer Investment Group LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 55.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 160,193 shares of the company’s stock after buying an additional 56,814 shares during the quarter. MercadoLibre makes up approximately 7.0% of Dragoneer Investment Group LLC’s portfolio, making the stock its 7th biggest position. Dragoneer Investment Group LLC’s holdings in MercadoLibre were worth $322,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC raised its stake in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after purchasing an additional 1,430 shares during the period. Weitz Investment Management Inc. purchased a new stake in shares of MercadoLibre in the 3rd quarter valued at approximately $8,647,000. TIAA Trust National Association raised its stake in shares of MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after acquiring an additional 1,083 shares during the period. Brown Advisory Inc. raised its stake in shares of MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after acquiring an additional 14,770 shares during the period. Finally, Deepwater Asset Management LLC raised its stake in shares of MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,674.08 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market capitalization of $84.88 billion, a price-to-earnings ratio of 44.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The company’s 50 day simple moving average is $1,713.47 and its 200-day simple moving average is $1,867.47. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22.

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

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. Benchmark reduced their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Finally, Wedbush reduced their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

About MercadoLibre

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.