Sanibel Captiva Trust Company Inc. Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Sanibel Captiva Trust Company Inc. grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 68.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 770 shares of the company's stock after buying an additional 314 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in MercadoLibre were worth $1,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in MercadoLibre in the 3rd quarter worth $114,417,000. Principal Financial Group Inc. increased its holdings in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after purchasing an additional 10,272 shares during the period. KBC Group NV raised its stake in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company's stock worth $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after purchasing an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its position in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after buying an additional 780 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

MercadoLibre Price Performance

Shares of MELI traded down $1.18 during mid-day trading on Friday, hitting $1,836.00. 245,067 shares of the company were exchanged, compared to its average volume of 364,653. 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 1-year low of $1,324.99 and a 1-year high of $2,161.73. The stock has a market cap of $93.08 billion, a price-to-earnings ratio of 64.78, a price-to-earnings-growth ratio of 0.92 and a beta of 1.60. The company has a 50 day moving average of $1,853.58 and a 200-day moving average of $1,905.33.

Wall Street Analyst Weigh In

Several brokerages have commented on MELI. Wedbush decreased their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price target on the stock. Barclays reduced 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. Citigroup lowered 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. Finally, Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,247.67.

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.