TIAA Trust National Association Has $13.67 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

TIAA Trust National Association boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3,394.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,037 shares of the company's stock after acquiring an additional 7,807 shares during the period. TIAA Trust National Association's holdings in MercadoLibre were worth $13,666,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. increased its stake in shares of MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after buying an additional 5 shares in the last quarter. Nvwm LLC grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock worth $1,933,000 after acquiring an additional 6 shares during the last quarter. Perigon Wealth Management LLC increased its position in MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after acquiring an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of MercadoLibre by 17.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after acquiring an additional 7 shares during the last quarter. Finally, Savant Capital LLC lifted its position in shares of MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company's stock worth $524,000 after purchasing an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of 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 upped 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. The Goldman Sachs Group lifted their price objective 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. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Finally, New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $2,402.81.

MercadoLibre Trading Down 2.3 %

NASDAQ:MELI traded down $47.78 on Friday, reaching $2,048.07. The company's stock had a trading volume of 326,428 shares, compared to its average volume of 374,317. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The business's 50-day moving average price is $2,028.39 and its two-hundred day moving average price is $1,974.17. The firm has a market cap of $103.83 billion, a PE ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.94 billion. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.