Greykasell Wealth Strategies Inc. Purchases New Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Greykasell Wealth Strategies Inc. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 161 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Zevin Asset Management LLC lifted its stake in MercadoLibre by 4.4% in the fourth quarter. Zevin Asset Management LLC now owns 17,507 shares of the company’s stock valued at $29,769,000 after acquiring an additional 744 shares during the last quarter. Carret Asset Management LLC lifted its stake in MercadoLibre by 62.6% in the 4th quarter. Carret Asset Management LLC now owns 735 shares of the company’s stock valued at $1,250,000 after purchasing an additional 283 shares during the last quarter. Atala Financial Inc bought a new position in MercadoLibre during the fourth quarter worth about $859,000. LBP AM SA increased its position in MercadoLibre by 30.9% during the fourth quarter. LBP AM SA now owns 32,800 shares of the company’s stock worth $55,774,000 after buying an additional 7,744 shares during the last quarter. Finally, Parnassus Investments LLC raised its stake in MercadoLibre by 16.1% in the fourth quarter. Parnassus Investments LLC now owns 17,304 shares of the company’s stock valued at $29,424,000 after buying an additional 2,401 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.6 %

MELI stock opened at $2,021.37 on Friday. The company has a market cap of $102.48 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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 52 week low of $1,324.99 and a 52 week high of $2,374.54. The business has a 50-day simple moving average of $1,966.98 and a 200 day simple moving average of $1,969.77.

MercadoLibre (NASDAQ:MELI) last issued its quarterly 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 net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MELI shares. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Cantor Fitzgerald increased their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Two investment 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre 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.