TIAA Trust National Association Raises Position in MercadoLibre, Inc. $MELI

TIAA Trust National Association raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,011 shares of the company’s stock after purchasing an additional 1,083 shares during the period. TIAA Trust National Association’s holdings in MercadoLibre were worth $22,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Capital Research Global Investors raised its holdings in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after buying an additional 296,543 shares during the period. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $597,045,000. Baillie Gifford & Co. raised its holdings in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the period. Finally, Capital International Investors raised its holdings in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.8%

MELI opened at $1,641.16 on Wednesday. The stock’s fifty day moving average is $1,721.27 and its two-hundred day moving average is $1,880.43. The company has a market capitalization of $83.21 billion, a P/E ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.36. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business posted $9.74 EPS. Analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.