Banco Santander S.A. Sells 629 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Banco Santander S.A. decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 54.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 528 shares of the company's stock after selling 629 shares during the period. Banco Santander S.A.'s holdings in MercadoLibre were worth $1,083,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors increased its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in MercadoLibre during the second quarter valued at about $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the second quarter worth about $43,000. Finally, Legacy Bridge LLC boosted its stake in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ MELI traded up $36.85 during mid-day trading on Friday, reaching $2,005.00. 414,571 shares of the company's stock were exchanged, compared to its average volume of 593,466. The firm has a market capitalization of $101.65 billion, a price-to-earnings ratio of 70.75, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $2,025.17 and a 200 day simple moving average of $1,855.05.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. StockNews.com cut MercadoLibre from a "buy" rating to a "hold" rating in a research report on Saturday, August 10th. Raymond James initiated coverage on MercadoLibre in a research report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 target price for the company. Wedbush restated an "outperform" rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,269.67.

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.