MercadoLibre, Inc. $MELI Stock Position Raised by Ashoka WhiteOak Capital Pte Ltd

Ashoka WhiteOak Capital Pte Ltd grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,622 shares of the company’s stock after buying an additional 1,586 shares during the quarter. MercadoLibre accounts for approximately 4.3% of Ashoka WhiteOak Capital Pte Ltd’s holdings, making the stock its 8th largest position. Ashoka WhiteOak Capital Pte Ltd’s holdings in MercadoLibre were worth $11,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Interchange Capital Partners LLC increased its position in MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after acquiring an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC boosted its position in MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after purchasing an additional 5 shares during the last quarter. Mitchell Capital Management Co. grew its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after purchasing an additional 5 shares during the period. Strategic Advisors LLC grew its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after purchasing an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in shares of MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after purchasing an additional 5 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MELI shares. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Wedbush cut their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,659.57 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The stock has a market cap of $84.14 billion, a price-to-earnings ratio of 43.80, a PEG ratio of 0.98 and a beta of 1.36. The company’s 50 day moving average is $1,695.62 and its two-hundred day moving average is $1,847.61.

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 analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.74 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insiders Place Their Bets

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

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.