Parnassus Investments LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Parnassus Investments LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,903 shares of the company's stock after acquiring an additional 436 shares during the quarter. Parnassus Investments LLC's holdings in MercadoLibre were worth $30,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates increased its stake in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company's stock worth $57,256,000 after acquiring an additional 1,604 shares during the period. KBC Group NV grew its holdings in MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company's stock worth $53,923,000 after acquiring an additional 17,677 shares during the period. Caprock Group LLC lifted its holdings in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company's stock valued at $955,000 after acquiring an additional 342 shares during the period. Sarasin & Partners LLP boosted its position in shares of MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company's stock worth $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in shares of MercadoLibre during the 2nd quarter worth $875,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on MELI shares. Cantor Fitzgerald reduced their price objective 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. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Barclays dropped their price objective on 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. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Finally, Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a "buy" rating and a $2,800.00 price target for the company. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,269.67.

MercadoLibre Stock Up 0.0 %

MercadoLibre stock traded up $0.39 during midday trading on Tuesday, hitting $1,916.51. 340,447 shares of the company were exchanged, compared to its average volume of 367,949. The company has a market cap of $97.17 billion, a PE ratio of 67.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company's fifty day moving average price is $2,035.34 and its 200-day moving average price is $1,849.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.