Assenagon Asset Management S.A. Has $172.61 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Assenagon Asset Management S.A. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,511 shares of the company's stock after buying an additional 11,166 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.20% of MercadoLibre worth $172,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Optimum Investment Advisors increased its holdings in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Legacy Bridge LLC boosted its stake in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after buying an additional 8 shares during the period. Quarry LP acquired a new stake in MercadoLibre during the second quarter worth approximately $43,000. NBC Securities Inc. increased its stake in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after acquiring an additional 7 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of MercadoLibre by 123.1% during the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company's stock valued at $49,000 after acquiring an additional 16 shares during the period. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MELI. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price target on the stock. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Citigroup dropped their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,247.67.

MercadoLibre Trading Up 4.8 %

Shares of NASDAQ:MELI traded up $84.54 during midday trading on Wednesday, hitting $1,838.15. 363,950 shares of the stock were exchanged, compared to its average volume of 359,180. The business's 50-day moving average price is $1,858.62 and its 200 day moving average price is $1,902.43. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. 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 stock has a market capitalization of $93.19 billion, a price-to-earnings ratio of 64.86, a P/E/G ratio of 1.24 and a beta of 1.60.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

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.