Nikko Asset Management Americas Inc. Purchases 2,211 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nikko Asset Management Americas Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,689 shares of the company's stock after buying an additional 2,211 shares during the period. MercadoLibre comprises approximately 2.2% of Nikko Asset Management Americas Inc.'s holdings, making the stock its 11th largest holding. Nikko Asset Management Americas Inc. owned approximately 0.23% of MercadoLibre worth $201,816,000 as of its most recent SEC filing.

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

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MELI shares. The Goldman Sachs Group upped their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Susquehanna raised their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Finally, Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $2,402.81.

MercadoLibre Stock Up 1.3 %

MELI traded up $27.70 during trading on Friday, hitting $2,095.27. The company had a trading volume of 441,808 shares, compared to its average volume of 363,773. The firm's 50-day moving average price is $1,990.86 and its 200 day moving average price is $1,970.70. The company has a market capitalization of $106.22 billion, a PE ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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. The company had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.