Wealthfront Advisers LLC Acquires Shares of 332,447 MercadoLibre, Inc. (NASDAQ:MELI)

Wealthfront Advisers LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 332,447 shares of the company’s stock, valued at approximately $565,306,000. MercadoLibre comprises approximately 0.5% of Wealthfront Advisers LLC’s investment portfolio, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Donaldson Capital Management LLC lifted its position in MercadoLibre by 6.0% in the fourth quarter. Donaldson Capital Management LLC now owns 1,478 shares of the company’s stock valued at $2,513,000 after purchasing an additional 84 shares during the last quarter. Miller Financial Services LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $784,000. SPX Gestao de Recursos Ltda bought a new stake in MercadoLibre in the fourth quarter valued at approximately $4,557,000. Independent Advisor Alliance increased its stake in shares of MercadoLibre by 12.3% during the fourth quarter. Independent Advisor Alliance now owns 776 shares of the company’s stock valued at $1,319,000 after buying an additional 85 shares during the period. Finally, Main Street Research LLC increased its stake in shares of MercadoLibre by 117.0% during the fourth quarter. Main Street Research LLC now owns 15,022 shares of the company’s stock valued at $25,544,000 after buying an additional 8,099 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MELI shares. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Citigroup reduced their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 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 stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Trading Down 3.2 %

NASDAQ MELI opened at $1,944.61 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock has a market cap of $98.59 billion, a P/E ratio of 51.58, a P/E/G ratio of 1.12 and a beta of 1.64. The stock’s fifty day moving average price is $1,946.86 and its 200-day moving average price is $1,969.34. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.