Cypress Asset Management Inc. TX Takes $7.49 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Cypress Asset Management Inc. TX purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,379 shares of the company's stock, valued at approximately $7,490,000. MercadoLibre accounts for approximately 1.9% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital International Investors lifted its holdings in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth $565,306,000. Capital World Investors boosted its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the period. Finally, Norges Bank acquired a new position in MercadoLibre in the fourth quarter worth $383,051,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI traded down $5.22 on Thursday, hitting $2,545.49. 200,047 shares of the stock were exchanged, compared to its average volume of 382,298. The business has a 50-day moving average of $2,217.71 and a two-hundred day moving average of $2,030.61. The firm has a market capitalization of $129.05 billion, a price-to-earnings ratio of 67.52, a PEG ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,635.88.

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

Analysts Set New Price Targets

MELI has been the subject of several analyst reports. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Barclays boosted their price target on shares of 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. upped their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group increased their price target on shares of 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,572.86.

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.