MercadoLibre, Inc. (NASDAQ:MELI) Position Increased by Ribbit Management Company LLC

Ribbit Management Company LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 130.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,673 shares of the company's stock after buying an additional 6,040 shares during the period. MercadoLibre comprises about 2.1% of Ribbit Management Company LLC's portfolio, making the stock its 8th largest holding. Ribbit Management Company LLC's holdings in MercadoLibre were worth $18,149,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of MercadoLibre by 20.6% during the 4th quarter. ProShare Advisors LLC now owns 59,162 shares of the company's stock valued at $100,601,000 after buying an additional 10,119 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of MercadoLibre by 0.9% during the 4th quarter. Quantinno Capital Management LP now owns 3,685 shares of the company's stock valued at $6,266,000 after buying an additional 33 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of MercadoLibre by 5.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,682 shares of the company's stock valued at $18,431,000 after buying an additional 534 shares during the last quarter. NWI Management LP raised its stake in shares of MercadoLibre by 39.1% during the 4th quarter. NWI Management LP now owns 42,700 shares of the company's stock valued at $72,609,000 after buying an additional 12,000 shares during the last quarter. Finally, Nellore Capital Management LLC raised its stake in shares of MercadoLibre by 15.9% during the 4th quarter. Nellore Capital Management LLC now owns 65,508 shares of the company's stock valued at $111,392,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

MELI traded down $1.57 during trading on Friday, reaching $2,584.92. The company's stock had a trading volume of 279,704 shares, compared to its average volume of 383,139. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $2,135.04 and a two-hundred day simple moving average of $1,999.73. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,610.30. The company has a market cap of $131.05 billion, a price-to-earnings ratio of 68.57, a PEG ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the company posted $6.78 EPS. The business's revenue was up 37.0% on a year-over-year basis. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MELI shares. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Cantor Fitzgerald dropped their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,521.33.

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.