1,427 Shares in MercadoLibre, Inc. $MELI Acquired by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,427 shares of the company’s stock, valued at approximately $2,467,000.

Several other institutional investors have also bought and sold shares of MELI. BlackRock Inc. purchased a new stake in MercadoLibre in the second quarter worth $2,246,015,000. Janus Henderson Group PLC raised its stake in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after buying an additional 10,142 shares during the period. Linonia Partnership LP raised its stake in shares of MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after buying an additional 423,527 shares during the period. Jupiter Topco LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MercadoLibre by 7.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after buying an additional 38,871 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.8%

Shares of MELI stock opened at $1,810.15 on Friday. The company’s fifty day simple moving average is $1,862.02 and its two-hundred day simple moving average is $1,788.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,428.00. The stock has a market capitalization of $91.77 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 1.27 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.31 earnings per share. As a group, analysts anticipate that MercadoLibre, Inc. will post 38.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MELI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Citigroup lowered their price objective on MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. New Street Research started coverage on MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, September 3rd. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,251.88.

MercadoLibre Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.