MercadoLibre, Inc. $MELI Shares Newly Purchased by Taylor Frigon Capital Management LLC

Key Points

• Taylor Frigon Capital Management purchased 1,427 MercadoLibre shares worth approximately $2.47 million during the third quarter. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly EPS of $9.19, surpassing estimates of $8.65, while revenue reached $10.17 billion, up 49.8% year over year and above analyst expectations.
• MELI shares opened at $1,810.15, down 0.8%, while analysts maintain a Moderate Buy consensus with an average price target of $2,251.88.

Taylor Frigon Capital Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,427 shares of the company's stock, valued at approximately $2,467,000.

Other large investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its holdings in shares of MercadoLibre by 24.0% during the 1st quarter. Y.D. More Investments Ltd now owns 31 shares of the company's stock worth $53,000 after buying an additional 6 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of MercadoLibre by 2.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company's stock worth $367,000 after buying an additional 6 shares during the period. Moody National Bank Trust Division increased its stake in shares of MercadoLibre by 0.8% in the 2nd quarter. Moody National Bank Trust Division now owns 733 shares of the company's stock valued at $1,244,000 after acquiring an additional 6 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of MercadoLibre by 0.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company's stock valued at $2,083,000 after acquiring an additional 6 shares in the last quarter. Finally, Matrix Trust Co increased its stake in MercadoLibre by 1.3% in the third quarter. Matrix Trust Co now owns 458 shares of the company's stock valued at $792,000 after purchasing an additional 6 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 0.8%

MELI stock opened at $1,810.15 on Friday. The stock has a market cap of $91.77 billion, a P/E ratio of 49.23, a P/E/G ratio of 1.27 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock's fifty day simple moving average is $1,862.02 and its two-hundred day simple moving average is $1,788.72. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The business's revenue was up 49.8% compared to the same quarter last year. During the same period last year, the firm posted $10.31 EPS. Analysts expect that MercadoLibre, Inc. will post 38.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MELI. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Citigroup cut their price target on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. New Street Research assumed coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 price objective for the company. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.