Independent Solutions Wealth Management LLC Invests $1.40 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Independent Solutions Wealth Management LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 821 shares of the company's stock, valued at approximately $1,396,000.

Several other hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in shares of MercadoLibre by 18.6% in the third 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. State Street Corp grew its stake in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company's stock valued at $830,190,000 after acquiring an additional 12,000 shares in the last quarter. Wellington Management Group LLP increased its position in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after acquiring an additional 120,922 shares during the period. Wealthfront Advisers LLC acquired a new stake in MercadoLibre in the 4th quarter worth about $565,306,000. Finally, Royal London Asset Management Ltd. boosted its holdings in MercadoLibre by 8.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company's stock valued at $438,232,000 after purchasing an additional 21,063 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MELI. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a report on Friday, February 21st. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $2,402.81.

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MercadoLibre Price Performance

MercadoLibre stock traded up $56.99 during mid-day trading on Tuesday, reaching $2,191.30. The company had a trading volume of 429,408 shares, compared to its average volume of 363,563. The business has a fifty day simple moving average of $2,005.48 and a 200 day simple moving average of $1,971.33. The company has a market cap of $111.09 billion, a P/E ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64. 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 fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates 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 predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.