Whittier Trust Co. of Nevada Inc. Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Whittier Trust Co. of Nevada Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 839 shares of the company's stock after purchasing an additional 171 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in MercadoLibre were worth $1,427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre during the 4th quarter worth $565,306,000. Strategic Financial Concepts LLC grew its holdings in MercadoLibre by 169,952.3% during the 4th 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 in the last quarter. FMR LLC increased its position in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP boosted its position in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Swedbank AB grew its holdings in MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after purchasing an additional 73,336 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Cantor Fitzgerald increased their price objective 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. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Bank of America upped their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $2,402.81.

MercadoLibre Price Performance

MercadoLibre stock traded up $47.91 during midday trading on Tuesday, reaching $2,182.22. The company had a trading volume of 245,517 shares, compared to its average volume of 363,563. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a market capitalization of $110.63 billion, a P/E ratio of 57.88, a P/E/G ratio of 1.12 and a beta of 1.64. The firm's fifty day simple moving average is $2,005.48 and its 200-day simple moving average is $1,971.33.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share 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 business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.