TIAA Trust National Association Has $444,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

TIAA Trust National Association lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270 shares of the company’s stock after selling 21 shares during the quarter. TIAA Trust National Association’s holdings in MercadoLibre were worth $444,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. First PREMIER Bank bought a new stake in MercadoLibre during the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. DSM Capital Partners LLC bought a new stake in MercadoLibre during the fourth quarter worth $36,000. Scarborough Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. bought a new stake in MercadoLibre during the second quarter worth $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.3 %

Shares of NASDAQ:MELI opened at $2,038.18 on Friday. The firm has a market cap of $103.33 billion, a P/E ratio of 91.19, a P/E/G ratio of 1.36 and a beta of 1.60. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,064.76. The business has a fifty day simple moving average of $1,807.59 and a 200 day simple moving average of $1,658.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $5.16 EPS. The business’s revenue was up 41.5% compared to the same quarter last year. Analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MELI shares. Cantor Fitzgerald started coverage on MercadoLibre in a research note on Thursday. They set an “overweight” rating and a $2,530.00 target price for the company. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Citigroup increased their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BTIG Research increased their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,141.25.

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.