Independent Solutions Wealth Management LLC Invests $1.40 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Independent Solutions Wealth Management LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 821 shares of the company’s stock, valued at approximately $1,396,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $565,306,000. Strategic Financial Concepts LLC increased its stake in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares during the last quarter. FMR LLC increased its stake in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares during the period. Finally, Swedbank AB grew its holdings in 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 period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,067.57 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $104.82 billion, a PE ratio of 54.84, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The business’s fifty day moving average price is $1,990.86 and its two-hundred day moving average price is $1,970.70.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. Barclays upped their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup dropped their price objective on shares of 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. Finally, Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Two equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.