Banque Pictet & Cie SA Acquires 1,025 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Banque Pictet & Cie SA boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,907 shares of the company's stock after buying an additional 1,025 shares during the period. Banque Pictet & Cie SA's holdings in MercadoLibre were worth $13,475,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Covestor Ltd bought a new position in MercadoLibre during the 4th quarter worth $27,000. Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth about $32,000. VSM Wealth Advisory LLC acquired a new stake in MercadoLibre in the 4th quarter worth about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after purchasing an additional 15 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.0%

Shares of NASDAQ:MELI traded up $0.48 during midday trading on Wednesday, hitting $2,477.08. 239,588 shares of the stock were exchanged, compared to its average volume of 387,779. The stock has a market capitalization of $125.59 billion, a price-to-earnings ratio of 60.92, a P/E/G ratio of 1.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The business's 50-day moving average price is $2,478.82 and its 200 day moving average price is $2,146.93. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS 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 analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.78 earnings per share. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on MELI. Barclays raised their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,645.94.

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.