Nordea Investment Management AB Acquires 43,215 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nordea Investment Management AB boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 37.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,688 shares of the company's stock after buying an additional 43,215 shares during the quarter. Nordea Investment Management AB owned approximately 0.31% of MercadoLibre worth $271,897,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MELI. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after purchasing an additional 15 shares during the period. Legacy Bridge LLC grew its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after buying an additional 8 shares during the last quarter. Quarry LP bought a new stake in shares of MercadoLibre during the second quarter worth about $43,000. NBC Securities Inc. raised its holdings in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after acquiring an additional 7 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position 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 acquiring an additional 16 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

MercadoLibre Price Performance

MELI traded down $34.75 on Monday, reaching $1,799.42. The company had a trading volume of 365,413 shares, compared to its average volume of 425,761. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market cap of $91.23 billion, a price-to-earnings ratio of 63.49, a P/E/G ratio of 1.24 and a beta of 1.60. The business has a 50 day simple moving average of $1,899.59 and a 200 day simple moving average of $1,896.04.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a report on Thursday, September 12th. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2,261.00.

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.