Atreides Management LP Buys 2,052 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Atreides Management LP lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,662 shares of the company’s stock after acquiring an additional 2,052 shares during the period. MercadoLibre accounts for 1.5% of Atreides Management LP’s portfolio, making the stock its 19th largest position. Atreides Management LP’s holdings in MercadoLibre were worth $58,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Planning Capital Management Corp raised its position in shares of MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares in the last quarter. Mount Lucas Management LP raised its position in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC grew its stake in MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Wedbush restated an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,985.17 on Monday. The stock has a market cap of $100.65 billion, a PE ratio of 70.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61. The business has a 50-day simple moving average of $2,020.96 and a 200-day simple moving average of $1,869.98. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

MercadoLibre 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.