MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,163 shares of the company’s stock after acquiring an additional 370 shares during the quarter. MercadoLibre comprises 1.8% of Sierra Summit Advisors LLC’s portfolio, making the stock its 24th biggest position. Sierra Summit Advisors LLC’s holdings in MercadoLibre were worth $8,779,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Human Investing LLC purchased a new stake in MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. grew its stake in shares of MercadoLibre by 100.0% in 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 in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. raised its holdings in shares of MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Barclays raised their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Cantor Fitzgerald raised their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group upped their target price 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 analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Trading Down 5.4 %

Shares of NASDAQ:MELI opened at $1,841.29 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $2,036.90 and its 200 day moving average price is $1,966.91. The company has a market cap of $93.35 billion, a PE ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.