MercadoLibre, Inc. (NASDAQ:MELI) Holdings Boosted by First Foundation Advisors

First Foundation Advisors boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,431 shares of the company's stock after acquiring an additional 375 shares during the quarter. First Foundation Advisors' holdings in MercadoLibre were worth $4,134,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $565,306,000. Norges Bank purchased a new position in MercadoLibre in the 4th quarter valued at about $383,051,000. Strategic Financial Concepts LLC grew its stake in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after acquiring an additional 181,849 shares in the last quarter. Coronation Fund Managers Ltd. increased its position in shares of MercadoLibre by 130.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company's stock worth $131,747,000 after acquiring an additional 43,836 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after acquiring an additional 43,215 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MELI shares. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Benchmark assumed coverage on MercadoLibre in a research note on Tuesday. They issued a "buy" rating and a $2,500.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Bank of America lifted their target price 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, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $2,415.00.

MercadoLibre Stock Performance

Shares of MELI traded up $73.31 during trading hours on Tuesday, reaching $2,110.43. 284,135 shares of the company's stock traded hands, compared to its average volume of 387,401. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The business's fifty day simple moving average is $2,037.40 and its two-hundred day simple moving average is $1,957.73. 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 firm has a market capitalization of $106.99 billion, a price-to-earnings ratio of 55.98, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.