MercadoLibre, Inc. (NASDAQ:MELI) is Bender Robert & Associates’ 6th Largest Position

Bender Robert & Associates decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,050 shares of the company’s stock after selling 1,341 shares during the quarter. MercadoLibre makes up approximately 4.9% of Bender Robert & Associates’ holdings, making the stock its 6th largest holding. Bender Robert & Associates’ holdings in MercadoLibre were worth $20,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its holdings in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares during the period. FMR LLC grew its holdings in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp grew its holdings in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the period. Wellington Management Group LLP lifted its position in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $565,306,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays boosted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,990.11 on Wednesday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business’s fifty day moving average price is $1,952.66 and its two-hundred day moving average price is $1,969.27. The firm has a market capitalization of $100.89 billion, a PE ratio of 52.79, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, research analysts expect 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.