102 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 102 shares of the company’s stock, valued at approximately $199,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tectonic Advisors LLC boosted its position in MercadoLibre by 12.9% in the first quarter. Tectonic Advisors LLC now owns 184 shares of the company’s stock valued at $359,000 after buying an additional 21 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of MercadoLibre by 1,887.5% in the 1st quarter. Larson Financial Group LLC now owns 159 shares of the company’s stock worth $310,000 after purchasing an additional 151 shares during the period. West Family Investments Inc. bought a new stake in MercadoLibre during the 1st quarter valued at $205,000. Whittier Trust Co. boosted its holdings in shares of MercadoLibre by 7.3% in the 1st quarter. Whittier Trust Co. now owns 1,724 shares of the company’s stock worth $3,363,000 after buying an additional 117 shares during the last quarter. Finally, Dakota Wealth Management increased its position in shares of MercadoLibre by 5.8% in the first quarter. Dakota Wealth Management now owns 1,113 shares of the company’s stock worth $2,171,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald cut their price target on 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. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,645.94.

MercadoLibre Price Performance

MELI stock opened at $2,351.14 on Friday. MercadoLibre, Inc. has a 1 year low of $1,579.78 and a 1 year high of $2,645.22. The stock has a market capitalization of $119.20 billion, a PE ratio of 57.82, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. 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’s 50-day moving average is $2,493.54 and its 200-day moving average is $2,176.24.

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

About MercadoLibre

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.