MercadoLibre, Inc. (NASDAQ:MELI) Position Increased by Donaldson Capital Management LLC

Donaldson Capital Management LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,394 shares of the company’s stock after buying an additional 67 shares during the quarter. Donaldson Capital Management LLC’s holdings in MercadoLibre were worth $2,860,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Raymond James & Associates boosted its stake in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares during the period. Caprock Group LLC grew its holdings in shares of MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares in the last quarter. Sarasin & Partners LLP raised its position in MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new stake in MercadoLibre in the 2nd quarter worth about $875,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MELI. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Citigroup upped their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,054.90 on Monday. The firm has a market capitalization of $104.18 billion, a PE ratio of 74.26, a PEG ratio of 1.24 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,310.31 and a 1 year high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $2,050.38 and its 200 day simple moving average is $1,807.21.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business posted $5.16 EPS. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 37.7 EPS for the current year.

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.