Sierra Summit Advisors LLC Purchases 370 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Sierra Summit Advisors LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,163 shares of the company's stock after acquiring an additional 370 shares during the period. MercadoLibre accounts for about 1.8% of Sierra Summit Advisors LLC's portfolio, making the stock its 24th largest position. Sierra Summit Advisors LLC's holdings in MercadoLibre were worth $8,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of MercadoLibre during the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. grew its stake in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after acquiring an additional 10,272 shares during the period. Nordea Investment Management AB increased its holdings in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after acquiring an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after purchasing an additional 143 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock worth $5,598,000 after purchasing an additional 780 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on MELI. Susquehanna boosted their price target 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, February 21st. Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Morgan Stanley dropped their price target on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a research report on Thursday. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Raymond James upgraded 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $2,409.69.

MercadoLibre Stock Performance

MELI traded up $62.96 during midday trading on Friday, reaching $1,996.95. The company had a trading volume of 358,711 shares, compared to its average volume of 388,657. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The business has a 50-day moving average price of $2,036.16 and a two-hundred day moving average price of $1,958.91. The stock has a market cap of $101.24 billion, a PE ratio of 52.97, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.