Tybourne Capital Management HK Ltd. Has $2.21 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Tybourne Capital Management HK Ltd. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 94.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,077 shares of the company’s stock after selling 17,569 shares during the period. MercadoLibre makes up approximately 0.6% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 19th largest holding. Tybourne Capital Management HK Ltd.’s holdings in MercadoLibre were worth $2,210,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre during the second quarter worth approximately $2,913,000. FMR LLC raised its stake in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of MercadoLibre in the 2nd quarter worth approximately $121,137,000. Finally, Swedbank AB grew its position 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 acquiring an additional 73,336 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 3.1 %

NASDAQ:MELI opened at $2,044.76 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock’s fifty day simple moving average is $2,024.62 and its 200-day simple moving average is $1,864.25. The firm has a market capitalization of $103.67 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61.

Analysts Set New Price Targets

MELI has been the subject of several research analyst reports. BTIG Research cut their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Bank of America raised 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. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Company 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.