MercadoLibre, Inc. (NASDAQ:MELI) is Cabot Wealth Management Inc.’s 9th Largest Position

Cabot Wealth Management Inc. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,895 shares of the company’s stock after purchasing an additional 109 shares during the quarter. MercadoLibre accounts for 2.4% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Cabot Wealth Management Inc.’s holdings in MercadoLibre were worth $18,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC raised its stake in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares in the last quarter. State Street Corp lifted its holdings 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 buying an additional 12,000 shares during the period. Wellington Management Group LLP lifted its holdings in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of MercadoLibre by 1.6% in the fourth 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 in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,260.00 on Friday. The firm’s 50-day moving average is $1,867.29 and its two-hundred day moving average is $1,957.32. 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 stock has a market capitalization of $114.58 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.94 billion. Equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MELI. Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. BTIG Research decreased their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $2,364.06.

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.