Mitsubishi UFJ Asset Management Co. Ltd. Acquires 2,334 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,637 shares of the company's stock after purchasing an additional 2,334 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of MercadoLibre worth $67,198,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre in the 3rd quarter worth approximately $114,417,000. Principal Financial Group Inc. increased its stake in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock worth $121,948,000 after acquiring an additional 10,272 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after acquiring an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock worth $5,598,000 after purchasing an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MELI shares. Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their target price 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. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of "Buy" and a consensus target price of $2,402.81.

MercadoLibre Price Performance

MELI stock traded up $16.69 during trading on Wednesday, hitting $1,931.69. The company had a trading volume of 166,781 shares, compared to its average volume of 412,700. 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 fifty day moving average price of $2,032.29 and a two-hundred day moving average price of $1,970.87. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a market cap of $97.93 billion, a P/E ratio of 51.21, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share 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 for the quarter, compared to analysts' expectations of $5.94 billion. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.