TIAA Trust National Association Has $444,000 Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

TIAA Trust National Association lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 270 shares of the company’s stock after selling 21 shares during the quarter. TIAA Trust National Association’s holdings in MercadoLibre were worth $444,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MELI. GQG Partners LLC raised its stake in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. Norges Bank acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $554,386,000. Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the period. Janus Henderson Group PLC raised its stake in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of MercadoLibre by 1,432.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Susquehanna lifted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Finally, Barclays lifted their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,141.25.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,038.18 on Friday. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. The stock’s 50 day moving average is $1,807.59 and its 200-day moving average is $1,658.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $103.33 billion, a price-to-earnings ratio of 91.19, a PEG ratio of 1.36 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post 35.22 EPS 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.