Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,637 shares of the company’s stock after buying an additional 2,334 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of MercadoLibre worth $67,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. State Street Corp increased its stake in 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 buying an additional 12,000 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 acquiring an additional 120,922 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth approximately $565,306,000. Royal London Asset Management Ltd. raised its stake in MercadoLibre by 8.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company’s stock valued at $438,232,000 after purchasing an additional 21,063 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in MercadoLibre by 1.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after purchasing an additional 3,710 shares during 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 topic of several research reports. Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Two research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,048.07 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. The firm’s 50 day moving average price is $2,028.39 and its 200-day moving average price is $1,974.47. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year 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, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.