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

TIAA Trust National Association lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3,394.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,037 shares of the company’s stock after buying an additional 7,807 shares during the quarter. TIAA Trust National Association’s holdings in MercadoLibre were worth $13,666,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after buying an additional 21 shares during the period. Cerity Partners LLC increased its stake in shares of MercadoLibre by 25.6% in the 3rd quarter. Cerity Partners LLC now owns 4,875 shares of the company’s stock valued at $10,003,000 after acquiring an additional 993 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of MercadoLibre by 11.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 426 shares of the company’s stock valued at $874,000 after acquiring an additional 43 shares during the period. Algert Global LLC boosted its stake in MercadoLibre by 318.7% during the third quarter. Algert Global LLC now owns 1,633 shares of the company’s stock worth $3,351,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Pitcairn Co. grew its holdings in MercadoLibre by 5.6% in the third quarter. Pitcairn Co. now owns 282 shares of the company’s stock worth $579,000 after purchasing an additional 15 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wedbush dropped their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup cut their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group increased their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Performance

Shares of MELI opened at $2,191.30 on Wednesday. The stock has a 50 day moving average of $2,014.23 and a 200 day moving average of $1,972.78. The company has a market capitalization of $111.09 billion, a price-to-earnings ratio of 58.12, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for 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, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.