First Foundation Advisors Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

First Foundation Advisors increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,431 shares of the company's stock after acquiring an additional 375 shares during the quarter. First Foundation Advisors' holdings in MercadoLibre were worth $4,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $565,306,000. Norges Bank acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $383,051,000. Strategic Financial Concepts LLC grew its position in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after acquiring an additional 181,849 shares during the last quarter. Coronation Fund Managers Ltd. grew its position in shares of MercadoLibre by 130.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company's stock worth $131,747,000 after acquiring an additional 43,836 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after acquiring an additional 43,215 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

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MercadoLibre Trading Up 2.0 %

Shares of MercadoLibre stock traded up $40.17 during mid-day trading on Monday, hitting $2,037.12. 317,706 shares of the stock were exchanged, compared to its average volume of 387,774. The stock has a market capitalization of $103.28 billion, a price-to-earnings ratio of 54.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a 50-day simple moving average of $2,036.16 and a 200 day simple moving average of $1,957.92.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on MELI shares. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Cantor Fitzgerald raised their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Finally, Morgan Stanley cut their price target on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Buy" and a consensus target price of $2,409.69.

About MercadoLibre

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.