MercadoLibre, Inc. (NASDAQ:MELI) Position Increased by First Foundation Advisors

First Foundation Advisors raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,431 shares of the company’s stock after buying an additional 375 shares during the period. First Foundation Advisors’ holdings in MercadoLibre were worth $4,134,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $565,306,000. Norges Bank acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $383,051,000. Strategic Financial Concepts LLC boosted its position in shares of MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of MercadoLibre by 130.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock valued at $131,747,000 after acquiring an additional 43,836 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Wedbush reduced their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Down 1.7 %

Shares of MercadoLibre stock opened at $1,947.12 on Thursday. The stock has a market capitalization of $98.71 billion, a price-to-earnings ratio of 51.65, a P/E/G ratio of 1.12 and a beta of 1.62. The company’s 50 day moving average price is $2,035.05 and its 200-day moving average price is $1,961.07. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. 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) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 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.