Alkeon Capital Management LLC Has $430.17 Million Stake in MercadoLibre, Inc. $MELI

Key Points

• Alkeon Capital Management LLC increased its stake in MercadoLibre, Inc. by 15.7% during the first quarter, owning approximately 220,499 shares valued at about $430.17 million.
• MercadoLibre reported earnings of $10.31 per share for the last quarter, missing analyst estimates, despite a year-over-year revenue increase of 33.8%.
• Analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with a consensus target price of $2,817.22 following various target adjustments from several major financial institutions.

Alkeon Capital Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 220,499 shares of the company's stock after buying an additional 29,866 shares during the quarter. MercadoLibre comprises about 0.9% of Alkeon Capital Management LLC's holdings, making the stock its 15th largest position. Alkeon Capital Management LLC owned approximately 0.43% of MercadoLibre worth $430,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after purchasing an additional 18,731 shares in the last quarter. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. Generation Investment Management LLP increased its position in MercadoLibre by 3.3% in the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock worth $1,035,061,000 after buying an additional 16,878 shares during the period. GQG Partners LLC increased its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after purchasing an additional 87,912 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MercadoLibre by 14.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 454,150 shares of the company's stock valued at $772,255,000 after buying an additional 57,806 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI traded down $0.31 during trading on Friday, reaching $2,417.49. The stock had a trading volume of 493,478 shares, compared to its average volume of 300,482. The business has a 50-day moving average of $2,402.07 and a 200-day moving average of $2,299.81. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market cap of $122.57 billion, a PE ratio of 59.71, a PEG ratio of 1.57 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the company earned $10.48 earnings per share. MercadoLibre's quarterly revenue was up 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MELI. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Barclays cut their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Benchmark reissued a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Company Profile

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.