5,372 Shares in MercadoLibre, Inc. $MELI Bought by Arthedge Capital Management LLC

Arthedge Capital Management LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,372 shares of the company's stock, valued at approximately $9,118,379,000. MercadoLibre comprises approximately 5.7% of Arthedge Capital Management LLC's investment portfolio, making the stock its 8th largest holding.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth $2,246,015,000. Jupiter Topco LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at about $917,123,000. Linonia Partnership LP increased its holdings in MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock valued at $939,994,000 after acquiring an additional 423,527 shares in the last quarter. Capital Research Global Investors increased its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Finally, Norges Bank acquired a new position in MercadoLibre during the fourth quarter worth about $597,045,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 2.3%

Shares of NASDAQ:MELI opened at $1,950.44 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market cap of $98.89 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 1.37 and a beta of 1.34. The stock's 50-day moving average price is $1,811.91 and its two-hundred day moving average price is $1,771.27. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company's quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.31 EPS. On average, research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on MELI shares. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Morgan Stanley cut their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Scotiabank reduced their target price on 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. Finally, Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Company 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source