NEOS Investment Management LLC Purchases 1,534 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

NEOS Investment Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 81.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,428 shares of the company's stock after acquiring an additional 1,534 shares during the quarter. NEOS Investment Management LLC's holdings in MercadoLibre were worth $5,829,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company's stock valued at $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in MercadoLibre in the fourth quarter worth $565,306,000. Royal London Asset Management Ltd. boosted its position in shares of MercadoLibre by 8.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company's stock worth $438,232,000 after purchasing an additional 21,063 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of MercadoLibre by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company's stock valued at $400,619,000 after buying an additional 3,710 shares during the period. Institutional investors own 87.62% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on MELI. Wedbush lowered their price objective 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. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Two investment 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 MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $2,402.81.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded down $28.84 during midday trading on Tuesday, hitting $1,922.03. 230,591 shares of the company's stock were exchanged, compared to its average volume of 375,033. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $97.44 billion, a PE ratio of 50.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company's 50 day moving average price is $2,030.68 and its 200 day moving average price is $1,972.33.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 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.