Whale Rock Capital Management LLC Buys 3,027 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Whale Rock Capital Management LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,360 shares of the company's stock after buying an additional 3,027 shares during the quarter. MercadoLibre accounts for 2.6% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 15th largest holding. Whale Rock Capital Management LLC owned about 0.18% of MercadoLibre worth $187,467,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James & Associates raised its stake in MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company's stock worth $57,256,000 after buying an additional 1,604 shares during the period. KBC Group NV lifted its holdings in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company's stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Caprock Group LLC grew its position in MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company's stock valued at $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP increased its stake in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company's stock valued at $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Finally, Mirabella Financial Services LLP raised its holdings in MercadoLibre by 622.1% during the third quarter. Mirabella Financial Services LLP now owns 2,159 shares of the company's stock worth $4,430,000 after buying an additional 1,860 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush reissued an "outperform" rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price objective for the company. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,267.67.

MercadoLibre Stock Performance

Shares of MELI stock traded down $24.32 during trading hours on Friday, hitting $1,960.63. 169,843 shares of the company were exchanged, compared to its average volume of 368,338. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $99.40 billion, a price-to-earnings ratio of 70.04, a P/E/G ratio of 1.31 and a beta of 1.57. The firm has a fifty day simple moving average of $2,009.14 and a 200 day simple moving average of $1,874.33. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.

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.