Fmr LLC Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

FMR LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 878,996 shares of the company's stock after acquiring an additional 137,564 shares during the quarter. FMR LLC owned 1.73% of MercadoLibre worth $1,803,665,000 at the end of the most recent reporting period.

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

MercadoLibre Trading Down 2.7 %

NASDAQ:MELI traded down $56.17 on Wednesday, reaching $2,053.83. 77,305 shares of the company's stock were exchanged, compared to its average volume of 368,645. The business has a fifty day moving average of $2,025.78 and a 200-day moving average of $1,862.98. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The firm has a market capitalization of $104.13 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61.

Analyst Ratings Changes

A number of analysts have recently weighed in on MELI shares. Citigroup decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. BTIG Research decreased 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 note on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus price target of $2,267.67.

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.