121 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Rakuten Securities Inc.

Rakuten Securities Inc. purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 121 shares of the company’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. Goodman Advisory Group LLC increased its stake in MercadoLibre by 93.8% during the fourth quarter. Goodman Advisory Group LLC now owns 841 shares of the company’s stock valued at $1,322,000 after purchasing an additional 407 shares during the last quarter. Prosperity Wealth Management Inc. bought a new stake in MercadoLibre during the fourth quarter valued at $228,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MercadoLibre by 31.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,981 shares of the company’s stock valued at $59,689,000 after purchasing an additional 9,000 shares during the last quarter. Donaldson Capital Management LLC increased its stake in MercadoLibre by 2.8% during the fourth quarter. Donaldson Capital Management LLC now owns 978 shares of the company’s stock valued at $1,536,000 after purchasing an additional 27 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in MercadoLibre by 50.2% during the fourth quarter. Mackenzie Financial Corp now owns 1,765 shares of the company’s stock valued at $2,774,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $1,397.86 on Thursday. The company has a market capitalization of $70.87 billion, a P/E ratio of 71.54, a PEG ratio of 0.90 and a beta of 1.44. The company has a 50-day simple moving average of $1,574.80 and a 200 day simple moving average of $1,523.84. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.25 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MELI. Citigroup lowered their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Wedbush reissued an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Barclays reduced their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, UBS Group reduced their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,813.85.

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.