332,447 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 332,447 shares of the company’s stock, valued at approximately $565,306,000. MercadoLibre comprises about 0.5% of Wealthfront Advisers LLC’s portfolio, making the stock its 29th biggest position. Wealthfront Advisers LLC owned about 0.66% of MercadoLibre as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Human Investing LLC purchased a new stake in MercadoLibre in the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. grew its holdings in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Citigroup reduced their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, MercadoLibre presently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,944.61 on Tuesday. The business has a 50 day moving average of $1,946.86 and a 200 day moving average of $1,969.34. The company has a market capitalization of $98.59 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.