LPL Financial LLC Has $67.15 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

LPL Financial LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,490 shares of the company's stock after acquiring an additional 4,678 shares during the quarter. LPL Financial LLC owned approximately 0.08% of MercadoLibre worth $67,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $565,306,000. Strategic Financial Concepts LLC raised its holdings in shares of MercadoLibre by 169,952.3% during the fourth 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 period. FMR LLC lifted its position in shares of 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 acquiring an additional 137,564 shares in the last quarter. Wellington Management Group LLP boosted its stake in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in MercadoLibre during the 3rd quarter worth approximately $114,417,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MELI shares. Cantor Fitzgerald increased their target price 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 price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America lifted their target price 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. The Goldman Sachs Group upped their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of "Buy" and an average price target of $2,402.81.

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MercadoLibre Stock Down 2.3 %

NASDAQ MELI traded down $47.78 during trading on Friday, hitting $2,048.07. 326,428 shares of the company traded hands, compared to its average volume of 374,317. The company has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. The business has a fifty day simple moving average of $2,028.39 and a 200 day simple moving average of $1,974.17. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. 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 (NASDAQ:MELI - Get Free Report) last announced 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.