MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 99.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 405 shares of the company's stock after purchasing an additional 202 shares during the quarter. Sagespring Wealth Partners LLC's holdings in MercadoLibre were worth $790,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MELI shares. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna increased their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Barclays raised their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Price Performance

NASDAQ MELI traded up $13.27 on Thursday, reaching $2,402.75. The company had a trading volume of 238,171 shares, compared to its average volume of 386,166. The firm's 50 day moving average price is $2,370.14 and its 200 day moving average price is $2,082.46. MercadoLibre, Inc. has a 12 month low of $1,563.21 and a 12 month high of $2,635.88. The stock has a market capitalization of $121.82 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly 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. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the firm posted $6.78 EPS. The firm's revenue was up 37.0% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.