MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,147 shares of the company’s stock after selling 113 shares during the quarter. Intech Investment Management LLC’s holdings in MercadoLibre were worth $4,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the period. Janus Henderson Group PLC raised its holdings in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the period. Legal & General Group Plc lifted its stake in MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after buying an additional 40,361 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.9 %

MercadoLibre stock opened at $2,005.00 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm’s fifty day simple moving average is $2,025.17 and its 200-day simple moving average is $1,855.05. The company has a market capitalization of $101.65 billion, a P/E ratio of 70.75, a P/E/G ratio of 1.31 and a beta of 1.61.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MELI shares. Wedbush restated an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,269.67.

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.