MercadoLibre, Inc. $MELI Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the second quarter, HoldingsChannel.com reports. The firm owned 70,319 shares of the company’s stock after buying an additional 3,099 shares during the period. ProShare Advisors LLC’s holdings in MercadoLibre were worth $183,788,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. GQG Partners LLC increased its holdings in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after acquiring an additional 87,912 shares during the last quarter. Jennison Associates LLC raised its position in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Finally, Nuveen LLC bought a new position in MercadoLibre during the first quarter worth $143,367,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the subject of a number of recent research reports. Susquehanna lowered their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Morgan Stanley upped their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Stock Down 0.9%

MercadoLibre stock opened at $2,108.60 on Monday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock has a market cap of $106.90 billion, a price-to-earnings ratio of 51.45, a PEG ratio of 1.56 and a beta of 1.51. The company’s 50-day moving average price is $2,290.36 and its two-hundred day moving average price is $2,379.17. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.83 EPS. On average, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.