Edgestream Partners L.P. Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Edgestream Partners L.P. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 401 shares of the company's stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $434,000. Callan Family Office LLC bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $291,000. Raymond James Financial Inc. bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $70,131,000. Promus Capital LLC bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $107,000. Finally, Dana Investment Advisors Inc. grew its holdings in shares of MercadoLibre by 1.8% in the fourth quarter. Dana Investment Advisors Inc. now owns 621 shares of the company's stock worth $1,056,000 after purchasing an additional 11 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. Citigroup cut their target price 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. Wedbush cut their target price 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. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre has an average rating of "Buy" and a consensus price target of $2,402.81.

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MercadoLibre Stock Up 1.6 %

Shares of MELI traded up $31.67 during trading hours on Friday, hitting $2,021.37. The company had a trading volume of 510,550 shares, compared to its average volume of 412,653. The firm has a fifty day moving average price of $1,966.98 and a 200-day moving average price of $1,969.31. The stock has a market capitalization of $102.48 billion, a price-to-earnings ratio of 53.62, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, equities research analysts forecast 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.