Dragoneer Investment Group LLC Buys 56,814 Shares of MercadoLibre, Inc. $MELI

Dragoneer Investment Group LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 55.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,193 shares of the company’s stock after purchasing an additional 56,814 shares during the quarter. MercadoLibre makes up 7.0% of Dragoneer Investment Group LLC’s holdings, making the stock its 7th biggest position. Dragoneer Investment Group LLC owned about 0.32% of MercadoLibre worth $322,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MELI. Capital Research Global Investors grew its position in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the period. Assenagon Asset Management S.A. grew its position in shares of MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after purchasing an additional 296,543 shares during the period. Norges Bank acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $597,045,000. Marshall Wace LLP grew its position in shares of MercadoLibre by 184.8% in the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after purchasing an additional 202,322 shares during the period. Finally, Baillie Gifford & Co. grew its position in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,674.08 on Wednesday. The company’s 50-day moving average price is $1,713.47 and its 200-day moving average price is $1,867.47. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company has a market cap of $84.88 billion, a P/E ratio of 44.18, a P/E/G ratio of 1.01 and a beta of 1.36. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the business posted $9.74 earnings per share. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MELI shares. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Finally, Benchmark decreased 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

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.