Northern Trust Corp Has $243.21 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Northern Trust Corp grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 143,025 shares of the company's stock after purchasing an additional 5,605 shares during the period. Northern Trust Corp owned 0.28% of MercadoLibre worth $243,205,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital International Investors lifted its position in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $565,306,000. Capital World Investors boosted its holdings in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the period. Finally, Norges Bank purchased a new position in MercadoLibre during the 4th quarter worth approximately $383,051,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI stock traded down $34.15 during mid-day trading on Monday, reaching $2,246.54. The stock had a trading volume of 271,369 shares, compared to its average volume of 378,957. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm's 50 day simple moving average is $2,061.51 and its 200 day simple moving average is $1,972.70. The firm has a market cap of $113.89 billion, a PE ratio of 59.59, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating 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 firm had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MELI shares. Barclays upped their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday. Finally, New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,464.67.

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.