TriaGen Wealth Management LLC Invests $991,000 in MercadoLibre, Inc. (NASDAQ:MELI)

TriaGen Wealth Management LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 483 shares of the company's stock, valued at approximately $991,000.

Other hedge funds also recently made changes to their positions in the company. O Dell Group LLC grew its position in shares of MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company's stock valued at $445,000 after purchasing an additional 6 shares in the last quarter. Belpointe Asset Management LLC increased its stake in MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock worth $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company's stock valued at $2,419,000 after acquiring an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its position in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company's stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Hilltop National Bank lifted its position in MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company's stock valued at $92,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MELI shares. Barclays lifted their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Dbs Bank raised MercadoLibre from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 11th. Morgan Stanley boosted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, September 20th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price target on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,283.00.

MercadoLibre Trading Up 0.7 %

MercadoLibre stock traded up $13.92 during mid-day trading on Friday, reaching $2,079.79. 230,026 shares of the company traded hands, compared to its average volume of 349,982. The firm has a market capitalization of $105.44 billion, a price-to-earnings ratio of 93.06, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm's 50 day moving average price is $2,034.69 and its 200 day moving average price is $1,762.16. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,161.73.

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