Ashton Thomas Private Wealth LLC Invests $434,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Ashton Thomas Private Wealth LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 255 shares of the company's stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Strategic Financial Concepts LLC boosted its position in shares of MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after acquiring an additional 181,849 shares during the last quarter. FMR LLC boosted its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after buying an additional 120,922 shares during the period. Swedbank AB increased its holdings in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after buying an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after buying an additional 70,154 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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MercadoLibre Stock Up 0.2 %

NASDAQ:MELI traded up $3.87 during midday trading on Wednesday, reaching $1,993.98. The company had a trading volume of 268,048 shares, compared to its average volume of 403,522. The stock's fifty day simple moving average is $1,952.66 and its 200-day simple moving average is $1,969.27. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm has a market capitalization of $101.09 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 1.12 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MELI shares. Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research 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. Finally, Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of "Buy" and an average price target 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.