Alta Capital Management LLC Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Alta Capital Management LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5,670.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,444 shares of the company’s stock after acquiring an additional 7,315 shares during the period. Alta Capital Management LLC’s holdings in MercadoLibre were worth $12,658,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Strategic Financial Concepts LLC increased its stake in MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares during the period. FMR LLC increased its stake in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the period. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the period. Swedbank AB increased its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares during the period. Finally, Jennison Associates LLC increased its stake in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MELI shares. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Barclays boosted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wedbush lowered their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Down 2.4 %

MELI stock opened at $2,070.41 on Tuesday. The company has a fifty day moving average price of $1,916.76 and a 200 day moving average price of $1,968.19. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a market cap of $104.96 billion, a price-to-earnings ratio of 54.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.