US Bancorp DE Buys 9,354 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

US Bancorp DE boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 69.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,872 shares of the company’s stock after purchasing an additional 9,354 shares during the quarter. US Bancorp DE’s holdings in MercadoLibre were worth $38,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. FMR LLC boosted its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp grew its position in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of MercadoLibre by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after buying an additional 3,710 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of several recent analyst reports. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Wedbush dropped their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald increased their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average target price of $2,385.94.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,121.87 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $1,909.95 and a 200-day moving average price of $1,967.18. The company has a market cap of $107.57 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.