ProShare Advisors LLC Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

ProShare Advisors LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,162 shares of the company's stock after acquiring an additional 10,119 shares during the period. ProShare Advisors LLC owned 0.12% of MercadoLibre worth $100,601,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MELI. Human Investing LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. boosted its stake in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 8 shares during the last quarter. Covestor Ltd bought a new position in MercadoLibre during the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $32,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI traded down $1.57 on Friday, reaching $2,584.92. 279,704 shares of the stock were exchanged, compared to its average volume of 383,139. The company's 50-day moving average price is $2,135.04 and its 200 day moving average price is $1,999.47. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,610.30. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $131.05 billion, a PE ratio of 68.57, a PEG ratio of 1.12 and a beta of 1.61.

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, 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 company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter in the previous 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, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Cantor Fitzgerald reduced their price objective on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,521.33.

MercadoLibre Company 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.