Fisher Asset Management LLC Has $341.43 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Fisher Asset Management LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,393 shares of the company's stock after acquiring an additional 13,820 shares during the period. Fisher Asset Management LLC owned about 0.33% of MercadoLibre worth $341,432,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its stake in shares of MercadoLibre by 75.5% in the third quarter. Daiwa Securities Group Inc. now owns 11,414 shares of the company's stock valued at $23,421,000 after purchasing an additional 4,909 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of MercadoLibre in the third quarter valued at approximately $429,000. Pitcairn Co. increased its stake in shares of MercadoLibre by 5.6% in the third quarter. Pitcairn Co. now owns 282 shares of the company's stock valued at $579,000 after purchasing an additional 15 shares during the period. Algert Global LLC increased its stake in shares of MercadoLibre by 318.7% in the third quarter. Algert Global LLC now owns 1,633 shares of the company's stock valued at $3,351,000 after purchasing an additional 1,243 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in shares of MercadoLibre by 11.2% in the third quarter. Kingsview Wealth Management LLC now owns 426 shares of the company's stock valued at $874,000 after purchasing an additional 43 shares during the period. Institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wedbush restated an "outperform" rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a "buy" rating and a $2,800.00 price objective on the stock. Citigroup raised their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,269.67.

MercadoLibre Trading Up 4.7 %

MercadoLibre stock traded up $94.95 during midday trading on Monday, reaching $2,099.95. The stock had a trading volume of 654,659 shares, compared to its average volume of 369,890. The firm's fifty day simple moving average is $2,025.06 and its two-hundred day simple moving average is $1,860.05. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. 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 cap of $106.46 billion, a price-to-earnings ratio of 74.10, a PEG ratio of 1.37 and a beta of 1.61.

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.