MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,605 shares of the company’s stock after purchasing an additional 114 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MercadoLibre were worth $2,729,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $565,306,000. Strategic Financial Concepts LLC raised its holdings in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares during the last quarter. FMR LLC raised its holdings in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.6 %

MELI opened at $2,021.37 on Friday. The business has a 50 day moving average price of $1,966.98 and a two-hundred day moving average price of $1,969.77. 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 company has a market cap of $102.48 billion, a PE ratio of 53.62, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted 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 return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Susquehanna lifted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. 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. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $2,402.81.

About MercadoLibre

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.