Harbor Capital Advisors Inc. Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Harbor Capital Advisors Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,432 shares of the company's stock after selling 556 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in MercadoLibre were worth $4,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors increased its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Quarry LP acquired a new position in shares of MercadoLibre in the 2nd quarter worth approximately $43,000. Legacy Bridge LLC boosted its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after purchasing an additional 8 shares during the period. GAMMA Investing LLC increased its holdings in MercadoLibre by 123.1% in the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company's stock valued at $49,000 after purchasing an additional 16 shares during the last quarter. Finally, NBC Securities Inc. raised its position in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock valued at $55,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

MELI has been the topic of several research analyst reports. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Morgan Stanley reduced 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 report on Monday, November 11th. Redburn Atlantic began coverage on MercadoLibre in a report 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. Finally, Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,247.67.

MercadoLibre Stock Performance

NASDAQ MELI traded up $19.77 during trading hours on Friday, hitting $1,758.77. 364,787 shares of the stock were exchanged, compared to its average volume of 389,747. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a 50-day moving average of $1,871.83 and a 200 day moving average of $1,899.54. The company has a market cap of $89.16 billion, a price-to-earnings ratio of 62.06, a price-to-earnings-growth 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.

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.