MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 976.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140 shares of the company’s stock after purchasing an additional 127 shares during the quarter. Zions Bancorporation N.A.’s holdings in MercadoLibre were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors raised its holdings in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in MercadoLibre during the 2nd quarter valued at about $36,000. Quarry LP purchased a new position in MercadoLibre during the 2nd quarter valued at about $43,000. Finally, NBC Securities Inc. grew its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.2 %

Shares of MercadoLibre stock opened at $1,880.00 on Friday. The company has a fifty day simple moving average of $2,039.73 and a 200-day simple moving average of $1,837.90. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $95.32 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 1.31 and a beta of 1.61.

Wall Street Analyst Weigh In

MELI has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Susquehanna increased their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

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.