MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Raised by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,984 shares of the company's stock after buying an additional 574 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in MercadoLibre were worth $5,074,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Swedbank AB increased its position in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after acquiring an additional 73,336 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of MercadoLibre by 19.7% during the third quarter. OneDigital Investment Advisors LLC now owns 572 shares of the company's stock valued at $1,174,000 after purchasing an additional 94 shares during the period. Empowered Funds LLC raised its stake in shares of MercadoLibre by 5.3% during the third quarter. Empowered Funds LLC now owns 697 shares of the company's stock valued at $1,430,000 after purchasing an additional 35 shares in the last quarter. Thrivent Financial for Lutherans grew its position in MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company's stock valued at $404,000 after buying an additional 21 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in MercadoLibre by 5.8% during the 3rd quarter. Meeder Advisory Services Inc. now owns 706 shares of the company's stock valued at $1,449,000 after buying an additional 39 shares during the period. Institutional investors own 87.62% of the company's stock.

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MercadoLibre Stock Up 1.3 %

Shares of MercadoLibre stock traded up $27.70 during midday trading on Friday, hitting $2,095.27. The company's stock had a trading volume of 441,808 shares, compared to its average volume of 363,609. The firm has a market capitalization of $106.22 billion, a P/E ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a 50-day simple moving average of $1,997.59 and a 200-day simple moving average of $1,970.80.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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.