Forsta AP Fonden Sells 3,300 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Forsta AP Fonden cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,600 shares of the company's stock after selling 3,300 shares during the quarter. Forsta AP Fonden's holdings in MercadoLibre were worth $16,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in 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. Grove Bank & Trust boosted its stake in shares of MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company's stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Legacy Bridge LLC increased its holdings in shares of 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 during the last quarter. Finally, Quarry LP acquired a new stake in MercadoLibre in the 2nd quarter worth approximately $43,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

MercadoLibre Trading Up 4.1 %

MercadoLibre stock traded up $76.70 during mid-day trading on Thursday, hitting $1,966.46. 163,040 shares of the company's stock were exchanged, compared to its average volume of 316,804. The firm has a market capitalization of $99.70 billion, a P/E ratio of 69.51, a PEG ratio of 0.96 and a beta of 1.60. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company's 50 day simple moving average is $1,841.64 and its 200-day simple moving average is $1,914.92. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MELI. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Redburn Atlantic started coverage on MercadoLibre in a research note on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Finally, Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of "Buy" and an average target price of $2,244.69.

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.