Envestnet Portfolio Solutions Inc. Buys 1,411 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 69.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,445 shares of the company's stock after acquiring an additional 1,411 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in MercadoLibre were worth $5,858,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Human Investing LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its position in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. grew its position in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI traded up $27.70 during trading hours on Friday, reaching $2,095.27. The company's stock had a trading volume of 441,808 shares, compared to its average volume of 363,220. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company's 50-day moving average is $1,997.59 and its 200-day moving average is $1,970.94. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The firm has a market cap of $106.22 billion, a PE ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MELI shares. Susquehanna upped 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. Citigroup lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Finally, New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Buy" and a consensus target price of $2,402.81.

MercadoLibre 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.