Frank Rimerman Advisors LLC Has $1.55 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Frank Rimerman Advisors LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 756 shares of the company’s stock after purchasing an additional 13 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in MercadoLibre were worth $1,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors boosted its holdings in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre during the second quarter worth about $36,000. Quarry LP purchased a new position in MercadoLibre in the second quarter valued at about $43,000. Finally, NBC Securities Inc. boosted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Barclays boosted their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. Finally, Citigroup upped their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Price Performance

MELI stock 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. MercadoLibre, Inc. has a one year low of $1,162.73 and a one year high of $2,161.73. The stock has a market cap of $103.80 billion, a PE ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. The firm has a 50 day simple moving average of $2,047.08 and a two-hundred day simple moving average of $1,783.71.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business 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. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

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.