TIAA Trust National Association grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,011 shares of the company’s stock after acquiring 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 & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Baillie Gifford & Co. lifted its position 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 valued at $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Capital Research Global Investors lifted its position 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 valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Capital World Investors lifted its position in shares of MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after acquiring an additional 22,659 shares in the last quarter. Capital International Investors lifted its position 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 valued at $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of MercadoLibre by 9.8% in the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after acquiring an additional 50,893 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.
MercadoLibre Trading Up 1.8%
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the company earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.
Analysts Set New Price Targets
MELI has been the topic of several research analyst reports. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. Wedbush lowered their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Scotiabank lowered their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.
View Our Latest Research Report on MercadoLibre
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.
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