Bank Pictet & Cie Europe AG Has $2.29 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Bank Pictet & Cie Europe AG raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 255.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,172 shares of the company's stock after buying an additional 842 shares during the period. Bank Pictet & Cie Europe AG's holdings in MercadoLibre were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after buying an additional 143 shares in the last quarter. Prospect Financial Services LLC increased its holdings in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of MercadoLibre by 34.1% in the fourth quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company's stock valued at $5,957,000 after purchasing an additional 891 shares in the last quarter. JARISLOWSKY FRASER Ltd increased its holdings in shares of MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after purchasing an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $316,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MELI. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a report on Monday, June 2nd. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of MercadoLibre from a "hold" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,632.50.

MercadoLibre Trading Up 0.1%

Shares of NASDAQ MELI opened at $2,371.98 on Monday. The company's fifty day moving average is $2,340.95 and its 200-day moving average is $2,074.79. The stock has a market cap of $120.25 billion, a price-to-earnings ratio of 62.92, a P/E/G ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,635.88. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business's quarterly revenue was up 37.0% compared to the same quarter last year. During the same period last year, the firm posted $6.78 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current 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.

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