TIAA Trust National Association Has $440,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

TIAA Trust National Association grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 8.2% during the 1st quarter, HoldingsChannel reports. The firm owned 291 shares of the company’s stock after acquiring an additional 22 shares during the quarter. TIAA Trust National Association’s holdings in MercadoLibre were worth $440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC grew its position in MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after buying an additional 497,535 shares in the last quarter. Capital International Investors grew its position in MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after buying an additional 4,317 shares in the last quarter. Capital World Investors grew its position in MercadoLibre by 13.3% during the fourth quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after buying an additional 88,359 shares in the last quarter. Norges Bank acquired a new stake in MercadoLibre during the fourth quarter worth about $554,386,000. Finally, Axiom Investors LLC DE grew its position in MercadoLibre by 22.6% during the fourth quarter. Axiom Investors LLC DE now owns 286,359 shares of the company’s stock worth $450,025,000 after buying an additional 52,775 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 1.6 %

MELI stock traded up $26.73 during trading on Friday, hitting $1,649.99. The company had a trading volume of 174,113 shares, compared to its average volume of 283,092. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $1,660.38 and a 200-day moving average price of $1,615.36. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $1,825.00. The stock has a market cap of $83.65 billion, a price-to-earnings ratio of 73.83, a PEG ratio of 1.21 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the company posted $3.97 EPS. MercadoLibre’s revenue was up 36.0% on a year-over-year basis. As a group, analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MELI. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Citigroup decreased their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, UBS Group decreased their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $1,922.08.

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.