Atria Wealth Solutions Inc. Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Atria Wealth Solutions Inc. increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 35.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,151 shares of the company's stock after purchasing an additional 558 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in MercadoLibre were worth $3,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. FMR LLC boosted its stake in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. State Street Corp boosted its stake in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company's stock worth $830,190,000 after acquiring an additional 12,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 52.9% during the 3rd 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 last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock valued at $509,506,000 after buying an additional 248,181 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MELI shares. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Barclays boosted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Finally, New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and upped their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two 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, the company currently has an average rating of "Buy" and an average price target of $2,364.06.

MercadoLibre Stock Performance

MercadoLibre stock traded up $149.53 during mid-day trading on Friday, reaching $2,260.00. 1,256,768 shares of the company traded hands, compared to its average volume of 371,354. The company has a market capitalization of $114.58 billion, a price-to-earnings ratio of 79.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The firm's fifty day moving average is $1,858.57 and its two-hundred day moving average is $1,952.94. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. On average, equities research analysts expect that MercadoLibre, Inc. will post 32.98 earnings per share for the current fiscal year.

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.