Baillie Gifford & Co. Has $9.62 Billion Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Baillie Gifford & Co. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,689,139 shares of the company’s stock after selling 157,065 shares during the quarter. MercadoLibre makes up about 7.2% of Baillie Gifford & Co.’s portfolio, making the stock its largest holding. Baillie Gifford & Co. owned about 9.25% of MercadoLibre worth $9,621,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. grew its stake in shares of MercadoLibre by 10.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 485 shares of the company’s stock worth $733,000 after acquiring an additional 45 shares in the last quarter. US Bancorp DE increased its stake in MercadoLibre by 9.0% in the 1st quarter. US Bancorp DE now owns 11,688 shares of the company’s stock valued at $17,672,000 after buying an additional 967 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of MercadoLibre by 22.3% during the 1st quarter. ProShare Advisors LLC now owns 51,712 shares of the company’s stock worth $78,186,000 after buying an additional 9,441 shares in the last quarter. Cozad Asset Management Inc. grew its holdings in shares of MercadoLibre by 3.0% in the first quarter. Cozad Asset Management Inc. now owns 345 shares of the company’s stock valued at $522,000 after acquiring an additional 10 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in MercadoLibre during the first quarter worth $2,764,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,961.16 on Tuesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $99.42 billion, a P/E ratio of 69.20, a PEG ratio of 1.15 and a beta of 1.61. The business’s 50-day moving average price is $2,044.44 and its two-hundred day moving average price is $1,832.95.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Citigroup raised their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,306.33.

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.