International Assets Investment Management LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 99.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130 shares of the company's stock after selling 248,172 shares during the period. International Assets Investment Management LLC's holdings in MercadoLibre were worth $229,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MELI. FMR LLC increased its position in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Swedbank AB lifted its holdings in MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Jennison Associates LLC lifted its holdings in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in MercadoLibre in the third quarter worth approximately $114,417,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, 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 link. Corporate insiders own 0.06% of the company's stock.
MercadoLibre Price Performance
Shares of MercadoLibre stock traded up $13.61 during trading on Tuesday, hitting $1,753.61. 240,183 shares of the company were exchanged, compared to its average volume of 359,684. The firm has a 50 day moving average price of $1,858.62 and a 200 day moving average price of $1,902.43. The stock has a market capitalization of $88.90 billion, a price-to-earnings ratio of 61.88, a P/E/G ratio of 1.24 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. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.
Wall Street Analysts Forecast Growth
MELI has been the topic of several research analyst reports. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Barclays decreased their price objective 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. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 target price on the stock. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price target for the company. Finally, Cantor Fitzgerald cut their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $2,247.67.
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About MercadoLibre
(
Free Report)
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.
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