MercadoLibre, Inc. (NASDAQ:MELI) is Evolutionary Tree Capital Management LLC’s 8th Largest Position

Evolutionary Tree Capital Management LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,071 shares of the company’s stock after acquiring an additional 6 shares during the quarter. MercadoLibre makes up about 3.5% of Evolutionary Tree Capital Management LLC’s portfolio, making the stock its 8th biggest position. Evolutionary Tree Capital Management LLC’s holdings in MercadoLibre were worth $3,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Amalgamated Bank grew its position in shares of MercadoLibre by 22.2% in the 4th quarter. Amalgamated Bank now owns 55 shares of the company’s stock worth $86,000 after buying an additional 10 shares during the last quarter. Gryphon Financial Partners LLC increased its position in shares of MercadoLibre by 40.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after purchasing an additional 149 shares in the last quarter. Brown Advisory Inc. increased its position in shares of MercadoLibre by 2.3% during the fourth quarter. Brown Advisory Inc. now owns 545 shares of the company’s stock worth $856,000 after purchasing an additional 12 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $446,000. Finally, Trexquant Investment LP acquired a new stake in shares of MercadoLibre in the 4th quarter worth $3,088,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $2,103.75 on Friday. The company has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. The business’s 50-day moving average is $1,899.17 and its two-hundred day moving average is $1,691.54. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business earned $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MELI shares. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Cantor Fitzgerald assumed coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

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.