Foxhaven Asset Management LP Buys 23,174 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Foxhaven Asset Management LP increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,412 shares of the company’s stock after buying an additional 23,174 shares during the period. MercadoLibre accounts for approximately 10.0% of Foxhaven Asset Management LP’s investment portfolio, making the stock its 2nd biggest holding. Foxhaven Asset Management LP owned about 0.43% of MercadoLibre worth $371,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Capital International Investors lifted its holdings in shares of MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Capital World Investors boosted its position in shares of MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after buying an additional 405,425 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after buying an additional 2,048 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,452.53 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,501.00. The stock has a market cap of $124.34 billion, a PE ratio of 65.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The stock has a fifty day moving average of $2,081.98 and a 200-day moving average of $1,982.42.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results 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. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company’s revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.78 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MELI. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Barclays raised their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,504.67.

About MercadoLibre

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.