Claro Advisors LLC Has $4.90 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Claro Advisors LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1,163.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,388 shares of the company's stock after buying an additional 2,199 shares during the period. Claro Advisors LLC's holdings in MercadoLibre were worth $4,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates raised its position in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company's stock valued at $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company's stock valued at $41,794,000 after buying an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd lifted its position in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company's stock worth $7,499,000 after buying an additional 1,241 shares in the last quarter. Caprock Group LLC grew its holdings in MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company's stock worth $955,000 after acquiring an additional 342 shares during the last quarter. Finally, Sarasin & Partners LLP increased its position in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company's stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MELI shares. Cantor Fitzgerald reissued an "overweight" rating and set a $2,530.00 price target on shares of MercadoLibre in a research note on Monday, October 7th. Barclays lifted their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered MercadoLibre from an "overweight" rating to a "neutral" rating and set a $2,400.00 price target on the stock. in a research note on Wednesday, October 2nd. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price objective for the company. Finally, BTIG Research boosted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,283.00.

MercadoLibre Stock Up 0.7 %

NASDAQ MELI traded up $13.92 during trading hours on Friday, reaching $2,079.79. 229,696 shares of the company's stock were exchanged, compared to its average volume of 349,982. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market capitalization of $105.44 billion, a price-to-earnings ratio of 92.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company's 50-day moving average is $2,030.77 and its two-hundred day moving average is $1,758.33. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm's revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.16 earnings per share. On average, analysts forecast that MercadoLibre, Inc. will post 37.55 EPS 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.