Alkeon Capital Management Reduces $94M in MercadoLibre, Inc. ($MELI)
Key Points
- Alkeon Capital Management changed its MercadoLibre, Inc. ($MELI) stake by 24.9% last quarter, cutting to 180,499 shares worth $283.92 million.
- Wall Street's consensus rating on $MELI is Buy and an average price target of $2,216.96.
- $MELI last traded around $1,573.00.
Alkeon Capital Management reduced its position in MercadoLibre, Inc. ($MELI) by 24.9% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,499 shares of MercadoLibre, Inc. after selling 60,000 shares during the quarter. Alkeon Capital Management's holdings in MercadoLibre, Inc. were worth $283.92 million as of its most recent filing.
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About MercadoLibre, Inc.
MercadoLibre, Inc. operates online commerce platforms in Brazil, Mexico, Argentina, and internationally. The company operates Mercado Libre Marketplace, an online commerce platform that can be accessed through mobile app or website; and Mercado Pago, a financial technology solution platform, which offers comprehensive set of financial technology services to users and other users of its e-commerce platform. It also provides Mercado Fondo that allows users to invest funds deposited in their Mercado Pago accounts; Mercado Credito, which grants loans and obtains better funding alternatives; and Mercado Mercado Envios that facilitates the shipping of goods from the Company and sellers to buyers. In addition, the company provides Mercado Libre Classifieds, where users can list vehicles, properties, and services; Mercado Ads, an advertising platform, which enables retailers and brands to promote their products and services on the platform. MercadoLibre, Inc. was incorporated in 1999 and is headquartered in Montevideo, Uruguay.
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