Farther Finance Advisors LLC Boosts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Farther Finance Advisors LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 135.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 629 shares of the company's stock after buying an additional 362 shares during the period. Farther Finance Advisors LLC's holdings in MercadoLibre were worth $1,205,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors boosted its stake in MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Capital International Investors raised its holdings in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the period. Capital World Investors lifted its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in MercadoLibre by 0.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock worth $927,239,000 after buying an additional 2,048 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MELI. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research note on Monday, June 2nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded up $3.16 during mid-day trading on Friday, reaching $2,371.98. 341,577 shares of the company were exchanged, compared to its average volume of 385,181. The stock has a market capitalization of $120.25 billion, a PE ratio of 62.92, a PEG ratio of 1.12 and a beta of 1.51. 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, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The company's 50 day moving average price is $2,330.03 and its 200 day moving average price is $2,072.57.

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

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.