27 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 27 shares of the company’s stock, valued at approximately $53,000.

A number of other institutional investors have also recently made changes to their positions in MELI. Park Square Financial Group LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre in the 4th quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $32,000. VSM Wealth Advisory LLC bought a new position in MercadoLibre during the fourth quarter worth $37,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in MercadoLibre by 375.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company’s stock worth $37,000 after buying an additional 15 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MELI shares. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,632.50.

MercadoLibre Stock Up 0.5%

Shares of NASDAQ MELI opened at $2,540.50 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The company has a 50-day moving average price of $2,413.70 and a 200-day moving average price of $2,099.89. The stock has a market capitalization of $128.80 billion, a P/E ratio of 62.48, a P/E/G ratio of 1.50 and a beta of 1.51. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.78 EPS. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.