Dragoneer Investment Group LLC Takes Position in MercadoLibre, Inc. $MELI

Dragoneer Investment Group LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 103,379 shares of the company’s stock, valued at approximately $241,591,000. MercadoLibre makes up approximately 5.3% of Dragoneer Investment Group LLC’s holdings, making the stock its 10th biggest holding. Dragoneer Investment Group LLC owned 0.20% of MercadoLibre as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Jackson Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter worth about $499,000. Highview Capital Management LLC DE bought a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $559,000. Ninety One North America Inc. increased its holdings in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares during the last quarter. Resona Asset Management Co. Ltd. raised its position in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares in the last quarter. Finally, Jennison Associates LLC raised its position in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $2,162.61 on Thursday. The company has a market capitalization of $109.64 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 1.09 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22. The company’s fifty day moving average price is $2,069.27 and its 200 day moving average price is $2,257.45.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the business posted $7.83 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,136 shares of company stock valued at $2,308,788 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Benchmark decreased their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. UBS Group cut their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, Susquehanna lowered their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,842.94.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.