Saturna Capital Corp Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Saturna Capital Corp trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,910 shares of the company’s stock after selling 80 shares during the quarter. Saturna Capital Corp’s holdings in MercadoLibre were worth $5,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MELI. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of MercadoLibre during the first quarter valued at approximately $661,000. Kingsview Wealth Management LLC raised its holdings in shares of MercadoLibre by 5.2% in the first quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock worth $552,000 after buying an additional 18 shares during the period. Blair William & Co. IL lifted its stake in shares of MercadoLibre by 3.5% during the 1st quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock worth $3,106,000 after acquiring an additional 70 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in MercadoLibre by 56.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock valued at $1,155,000 after acquiring an additional 275 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.8 %

NASDAQ:MELI opened at $1,977.39 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $100.25 billion, a P/E ratio of 69.77, a P/E/G ratio of 1.31 and a beta of 1.61. The company’s 50-day simple moving average is $2,044.19 and its 200-day simple moving average is $1,836.97. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Analyst Ratings Changes

Several analysts have recently weighed in on MELI shares. Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America upped their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Citigroup increased their price target 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. Three equities 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. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,286.33.

About MercadoLibre

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.