Jennison Associates LLC Reduces Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Jennison Associates LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,135,385 shares of the company's stock after selling 738,534 shares during the period. MercadoLibre makes up about 1.2% of Jennison Associates LLC's investment portfolio, making the stock its 19th largest position. Jennison Associates LLC owned 2.24% of MercadoLibre worth $1,930,655,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after purchasing an additional 248,181 shares during the period. FMR LLC increased its stake in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after buying an additional 137,564 shares during the period. Wellington Management Group LLP lifted its holdings in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after buying an additional 120,922 shares in the last quarter. Swedbank AB boosted its position in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after buying an additional 73,336 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre during the third quarter worth approximately $114,417,000. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MELI shares. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a "buy" rating and a $2,800.00 target price on the stock. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $2,244.69.

MercadoLibre Trading Down 1.3 %

NASDAQ:MELI opened at $1,922.19 on Monday. The stock has a market cap of $97.46 billion, a P/E ratio of 67.83, a P/E/G ratio of 1.02 and a beta of 1.62. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50-day simple moving average of $1,839.63 and a 200-day simple moving average of $1,919.50.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The stock was 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 in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

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.

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