Profund Advisors LLC Has $6.01 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Profund Advisors LLC lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,657 shares of the company’s stock after selling 51 shares during the period. Profund Advisors LLC’s holdings in MercadoLibre were worth $6,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MELI. Evolutionary Tree Capital Management LLC boosted its position in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares in the last quarter. Octahedron Capital Management L.P. acquired a new stake in MercadoLibre during the second quarter valued at approximately $1,890,000. Bulltick Wealth Management LLC grew its stake in shares of MercadoLibre by 27.4% in the 2nd quarter. Bulltick Wealth Management LLC now owns 5,537 shares of the company’s stock valued at $9,100,000 after purchasing an additional 1,190 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of MercadoLibre by 12.6% during the 2nd quarter. Sei Investments Co. now owns 141,650 shares of the company’s stock worth $232,785,000 after buying an additional 15,890 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,103.75 on Friday. The stock has a market cap of $106.65 billion, a price-to-earnings ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $1,899.17 and its 200 day simple moving average is $1,691.54.

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 net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company earned $5.16 EPS. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. As a group, research analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on MercadoLibre in a research note on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Barclays upped their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. BTIG Research lifted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,207.31.

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.