Whale Rock Capital Management LLC Has $187.47 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Whale Rock Capital Management LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,360 shares of the company’s stock after buying an additional 3,027 shares during the period. MercadoLibre accounts for 2.6% of Whale Rock Capital Management LLC’s portfolio, making the stock its 15th largest holding. Whale Rock Capital Management LLC owned 0.18% of MercadoLibre worth $187,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the second quarter worth $36,000. Legacy Bridge LLC boosted its holdings in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after buying an additional 8 shares during the period. Finally, Quarry LP acquired a new position in MercadoLibre in the 2nd quarter valued at $43,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Bank of America upped their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,267.67.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

MercadoLibre Trading Down 0.1 %

Shares of MELI opened at $1,984.95 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market cap of $100.64 billion, a price-to-earnings ratio of 70.04, a PEG ratio of 1.31 and a beta of 1.57. The stock has a fifty day moving average price of $2,009.14 and a two-hundred day moving average price of $1,874.33. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

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.