Envestnet Portfolio Solutions Inc. Acquires 189 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Envestnet Portfolio Solutions Inc. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,634 shares of the company's stock after purchasing an additional 189 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in MercadoLibre were worth $7,089,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. boosted its stake in MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after purchasing an additional 5 shares during the period. Texas Yale Capital Corp. increased its position in MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after buying an additional 5 shares in the last quarter. Formidable Asset Management LLC boosted its position in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after acquiring an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 0.0%

Shares of MELI opened at $2,403.81 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,563.21 and a 52 week high of $2,635.88. The stock has a market capitalization of $121.87 billion, a price-to-earnings ratio of 59.12, a PEG ratio of 1.34 and a beta of 1.51. The stock has a fifty day moving average of $2,387.65 and a 200-day moving average of $2,088.83.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's quarterly revenue was up 37.0% on a year-over-year basis. During the same period last year, the company earned $6.78 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MELI shares. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Barclays increased 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. Finally, Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $2,632.50.

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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