MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Boosted by Vestcor Inc

Vestcor Inc increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 26.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,045 shares of the company's stock after purchasing an additional 433 shares during the period. Vestcor Inc's holdings in MercadoLibre were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Planning Capital Management Corp boosted its stake in shares of 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 period. Mount Lucas Management LP grew its stake in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock worth $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company's stock worth $2,419,000 after acquiring an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC boosted its holdings in 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 purchasing an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MELI shares. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Wedbush reaffirmed an "outperform" rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Susquehanna upped their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a research note on Wednesday, August 28th. Finally, Citigroup reduced 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 report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,267.67.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction 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 transaction, the director now 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 legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

MercadoLibre Stock Performance

NASDAQ MELI traded up $18.69 during trading hours on Wednesday, hitting $1,897.87. The company had a trading volume of 283,140 shares, compared to its average volume of 369,603. 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 firm has a market cap of $96.22 billion, a P/E ratio of 66.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The business has a fifty day simple moving average of $1,998.90 and a 200-day simple moving average of $1,879.41.

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.