MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.6% in the fourth quarter, HoldingsChannel reports. The fund owned 830 shares of the company’s stock after buying an additional 124 shares during the quarter. Meeder Advisory Services Inc.’s holdings in MercadoLibre were worth $1,411,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in MercadoLibre during the fourth quarter worth approximately $565,306,000. Norges Bank acquired a new stake in shares of MercadoLibre during the 4th quarter worth $383,051,000. Strategic Financial Concepts LLC raised its position in shares of MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares during the period. Wellington Management Group LLP boosted its holdings in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre during the third quarter valued at about $114,417,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,934.03 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $98.05 billion, a P/E ratio of 51.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The stock has a 50 day moving average of $2,034.60 and a 200-day moving average of $1,970.61.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MELI. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Cantor Fitzgerald increased their price target 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 equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Buy” and a consensus target price of $2,402.81.

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.