Mediolanum International Funds Ltd lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,284 shares of the company's stock after acquiring an additional 1,092 shares during the quarter. Mediolanum International Funds Ltd's holdings in MercadoLibre were worth $15,946,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MELI. Jennison Associates LLC increased its holdings in shares of 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 purchasing an additional 70,154 shares during the last quarter. FMR LLC grew its stake in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after buying an additional 137,564 shares during the last quarter. State Street Corp raised its holdings in MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company's stock valued at $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP lifted its position in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after acquiring an additional 248,181 shares during the period. Institutional investors own 87.62% of the company's stock.
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 stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on MELI shares. BTIG Research dropped their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Cantor Fitzgerald dropped their target price 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. Morgan Stanley decreased their price target 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. Citigroup dropped their price objective 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, November 26th. Finally, Barclays lowered their target price 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. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $2,244.69.
Get Our Latest Research Report on MercadoLibre
MercadoLibre Price Performance
MercadoLibre stock traded down $25.13 during midday trading on Friday, reaching $1,922.19. The company's stock had a trading volume of 280,656 shares, compared to its average volume of 293,906. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $97.46 billion, a PE ratio of 67.83, a price-to-earnings-growth ratio of 1.00 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The business has a 50-day moving average price of $1,839.63 and a 200-day moving average price of $1,917.75.
MercadoLibre Company Profile
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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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