396 Shares in MercadoLibre, Inc. $MELI Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, HoldingsChannel reports. The firm purchased 396 shares of the company’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Bison Wealth LLC bought a new position in MercadoLibre during the 4th quarter worth approximately $206,000. Empowered Funds LLC boosted its stake in shares of MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth grew its holdings in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MercadoLibre in the second quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after buying an additional 30 shares during the period. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on MELI. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Benchmark lowered their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, UBS Group cut their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

MercadoLibre Stock Down 1.3%

MELI stock opened at $1,799.21 on Thursday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The business’s 50 day moving average price is $1,697.03 and its two-hundred day moving average price is $1,817.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market capitalization of $91.22 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the company posted $9.74 EPS. The firm’s revenue was up 49.0% on a year-over-year basis. As a group, analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.