Nuveen Asset Management LLC Buys 3,449 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nuveen Asset Management LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,081 shares of the company's stock after acquiring an additional 3,449 shares during the period. Nuveen Asset Management LLC owned about 0.13% of MercadoLibre worth $108,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. OMERS ADMINISTRATION Corp lifted its stake in shares of MercadoLibre by 24.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 3,204 shares of the company's stock valued at $5,448,000 after buying an additional 622 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MercadoLibre by 135.4% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,890 shares of the company's stock valued at $21,919,000 after purchasing an additional 7,414 shares during the period. Old Well Partners LLC raised its stake in shares of MercadoLibre by 5.5% during the 4th quarter. Old Well Partners LLC now owns 3,848 shares of the company's stock valued at $6,543,000 after purchasing an additional 200 shares during the period. MayTech Global Investments LLC raised its stake in shares of MercadoLibre by 4.8% during the 4th quarter. MayTech Global Investments LLC now owns 24,086 shares of the company's stock valued at $40,956,000 after purchasing an additional 1,109 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MercadoLibre by 68.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,767 shares of the company's stock valued at $225,765,000 after purchasing an additional 53,858 shares during the period. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Susquehanna boosted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, StockNews.com cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,521.33.

MercadoLibre Trading Up 0.0%

Shares of MELI stock traded up $0.86 on Tuesday, hitting $2,579.21. 255,936 shares of the company's stock traded hands, compared to its average volume of 382,572. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,610.30. The company's fifty day simple moving average is $2,146.51 and its 200 day simple moving average is $2,003.13. The stock has a market capitalization of $130.76 billion, a price-to-earnings ratio of 68.41, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company's revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.78 EPS. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.