MercadoLibre, Inc. (NASDAQ:MELI) Holdings Increased by State Street Corp

State Street Corp increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,584 shares of the company's stock after purchasing an additional 12,000 shares during the quarter. State Street Corp owned approximately 0.80% of MercadoLibre worth $830,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Planning Capital Management Corp grew its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company's stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP grew its stake in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company's stock valued at $293,000 after purchasing an additional 5 shares during the last quarter. Belpointe Asset Management LLC boosted its position in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock valued at $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted 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 period. Finally, Evolutionary Tree Capital Management LLC lifted its stake in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company's stock valued at $3,403,000 after purchasing an additional 6 shares during the period. 87.62% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction on Friday, November 29th. The shares were 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 of the company's stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Citigroup decreased their price target on shares of 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. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. Bank of America boosted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price objective on the stock. Finally, StockNews.com lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Saturday, August 10th. Three equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,267.67.

MercadoLibre Trading Down 1.9 %

Shares of NASDAQ:MELI traded down $37.77 during trading on Friday, reaching $1,947.18. The stock had a trading volume of 310,961 shares, compared to its average volume of 605,885. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $98.72 billion, a P/E ratio of 68.71, a PEG ratio of 1.35 and a beta of 1.57. The business has a fifty day moving average price of $2,006.79 and a 200-day moving average price of $1,876.16. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.