Nikko Asset Management Americas Inc. Has $201.82 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Nikko Asset Management Americas Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,689 shares of the company’s stock after acquiring an additional 2,211 shares during the quarter. MercadoLibre makes up 2.2% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 11th biggest holding. Nikko Asset Management Americas Inc. owned 0.23% of MercadoLibre worth $201,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre during the third quarter worth $114,417,000. Principal Financial Group Inc. boosted its holdings in MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the period. Nordea Investment Management AB boosted its holdings in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after acquiring an additional 143 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Up 1.6 %

Shares of MELI stock opened at $2,021.37 on Monday. The firm has a market capitalization of $102.48 billion, a P/E ratio of 53.62, a PEG ratio of 1.12 and a beta of 1.64. The firm’s fifty day moving average price is $1,966.98 and its two-hundred day moving average price is $1,969.13. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush decreased their price target 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. Barclays upped their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Bank of America increased their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2,402.81.

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.