Brighton Jones LLC Purchases Shares of 126 MercadoLibre, Inc. (NASDAQ:MELI)

Brighton Jones LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 126 shares of the company's stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Covestor Ltd acquired a new stake in MercadoLibre during the fourth quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth approximately $32,000. VSM Wealth Advisory LLC bought a new position in MercadoLibre during the 4th quarter worth $37,000. Finally, Banque Transatlantique SA acquired a new position in MercadoLibre in the 4th quarter valued at $41,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays increased their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Trading Up 0.6%

MercadoLibre stock traded up $13.27 during trading hours on Thursday, hitting $2,402.75. The stock had a trading volume of 238,171 shares, compared to its average volume of 386,166. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The stock has a market cap of $121.82 billion, a price-to-earnings ratio of 59.09, a P/E/G ratio of 1.33 and a beta of 1.51. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,635.88. The business's 50 day simple moving average is $2,370.14 and its 200-day simple moving average is $2,082.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm posted $6.78 earnings per share. The firm's revenue was up 37.0% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.