Stifel Financial Corp Sells 43,687 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Stifel Financial Corp decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 78.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,104 shares of the company's stock after selling 43,687 shares during the period. Stifel Financial Corp's holdings in MercadoLibre were worth $24,836,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Planning Capital Management Corp grew its position in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company's stock worth $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP grew its position in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after acquiring an additional 5 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock worth $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company's stock valued at $2,419,000 after buying an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC grew its position in MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company's stock valued at $3,403,000 after buying an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Insider Activity

In other 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 owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by company insiders.

MercadoLibre Stock Performance

Shares of MELI traded down $102.88 during mid-day trading on Monday, hitting $1,844.30. The company's stock had a trading volume of 583,249 shares, compared to its average volume of 369,844. MercadoLibre, Inc. has a one year low of $1,324.99 and a one 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 firm has a market capitalization of $93.51 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. The stock's 50-day moving average is $2,006.79 and its two-hundred day moving average is $1,877.14.

Analysts Set New Price Targets

MELI has been the subject of a number of recent analyst reports. BTIG Research decreased their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a "buy" rating and a $2,800.00 target price for the company. Wedbush reiterated an "outperform" rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Finally, Bank of America upped 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 equities research 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 stock. According to data from MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and an average target price 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.