Geode Capital Management LLC Has $98.72 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Geode Capital Management LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,680 shares of the company's stock after purchasing an additional 1,549 shares during the quarter. Geode Capital Management LLC owned about 0.12% of MercadoLibre worth $98,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. grew its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. lifted its holdings in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock worth $32,000 after purchasing an additional 12 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a research report on Thursday. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $2,409.69.

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MercadoLibre Price Performance

MELI stock traded up $26.24 during midday trading on Monday, reaching $2,023.19. 184,834 shares of the stock were exchanged, compared to its average volume of 387,266. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a fifty day moving average price of $2,036.16 and a 200 day moving average price of $1,957.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $102.57 billion, a PE ratio of 53.67, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.