Heritage Oak Wealth Advisors LLC Invests $211,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Heritage Oak Wealth Advisors LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 103 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. Raymond James & Associates boosted its holdings in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the period. Caprock Group LLC grew its position in MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the last quarter. Sarasin & Partners LLP increased its stake in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $875,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,055.93 on Friday. The company has a market cap of $104.23 billion, a P/E ratio of 91.99, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company’s fifty day moving average is $2,044.50 and its two-hundred day moving average is $1,775.88. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,162.73 and a 12-month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results 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. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm earned $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MELI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, October 7th. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Barclays raised their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,301.67.

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.