Harbour Investments Inc. Has $1.43 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Harbour Investments Inc. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 839 shares of the company’s stock after buying an additional 17 shares during the quarter. Harbour Investments Inc.’s holdings in MercadoLibre were worth $1,427,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Swedbank AB raised its stake in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of MercadoLibre by 19.7% in the third quarter. OneDigital Investment Advisors LLC now owns 572 shares of the company’s stock valued at $1,174,000 after purchasing an additional 94 shares in the last quarter. Empowered Funds LLC raised its stake in shares of MercadoLibre by 5.3% in the third quarter. Empowered Funds LLC now owns 697 shares of the company’s stock valued at $1,430,000 after purchasing an additional 35 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after purchasing an additional 21 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in shares of MercadoLibre by 5.8% in the third quarter. Meeder Advisory Services Inc. now owns 706 shares of the company’s stock valued at $1,449,000 after purchasing an additional 39 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,002.80 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The firm has a market cap of $101.54 billion, a PE ratio of 53.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a fifty day moving average of $1,977.75 and a 200-day moving average of $1,969.35.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MELI shares. Bank of America upped their target price 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. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Susquehanna upped 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. Barclays upped their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and an average target price of $2,402.81.

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.