Northcape Capital Pty Ltd Sells 8,461 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Northcape Capital Pty Ltd decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,262 shares of the company's stock after selling 8,461 shares during the quarter. MercadoLibre accounts for approximately 20.7% of Northcape Capital Pty Ltd's holdings, making the stock its 3rd largest holding. Northcape Capital Pty Ltd owned 0.15% of MercadoLibre worth $129,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Planning Capital Management Corp raised its holdings in 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 in the last quarter. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after purchasing an additional 5 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of 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 during the last quarter. Evolutionary Tree Capital Management LLC grew its stake in shares of MercadoLibre by 0.3% in the second 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. Finally, Strategic Blueprint LLC increased its holdings in MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company's stock worth $1,350,000 after buying an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MELI. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday. Finally, Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 target price on the stock. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,247.67.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $32.22 on Wednesday, reaching $1,739.00. 388,317 shares of the company's stock were exchanged, compared to its average volume of 394,657. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a fifty day moving average of $1,883.71 and a 200-day moving average of $1,897.64. The company has a market capitalization of $88.16 billion, a price-to-earnings ratio of 61.36, a PEG ratio of 1.24 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre 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.