MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,295 shares of the company’s stock after purchasing an additional 114 shares during the period. Smith Salley Wealth Management’s holdings in MercadoLibre were worth $2,657,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock valued at $286,636,000 after purchasing an additional 3,577 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in MercadoLibre by 19.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock valued at $3,753,000 after acquiring an additional 396 shares in the last quarter. Claro Advisors LLC boosted its position in MercadoLibre by 6.5% during the 1st quarter. Claro Advisors LLC now owns 197 shares of the company’s stock worth $298,000 after acquiring an additional 12 shares during the period. Deepwater Asset Management LLC grew its stake in shares of MercadoLibre by 14.5% in the first quarter. Deepwater Asset Management LLC now owns 9,409 shares of the company’s stock worth $14,226,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of MercadoLibre during the first quarter valued at about $11,827,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $2,047.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a market capitalization of $103.80 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. The business’s 50-day moving average is $2,047.08 and its 200-day moving average is $1,783.71. MercadoLibre, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.16 EPS. Equities research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Bank of America upped their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. BTIG Research lifted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley increased their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Three 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 data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

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.