MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164 shares of the company’s stock after selling 15 shares during the period. Wrapmanager Inc.’s holdings in MercadoLibre were worth $337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its position in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. KBC Group NV grew its stake in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Caprock Group LLC grew its stake in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares in the last quarter. Sarasin & Partners LLP increased its holdings in shares of MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd bought a new stake in shares of MercadoLibre during the second quarter valued at about $875,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.0 %

MercadoLibre stock opened at $1,916.51 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. 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 firm has a market capitalization of $97.17 billion, a price-to-earnings ratio of 67.63, a P/E/G ratio of 1.28 and a beta of 1.61. The company has a 50 day moving average price of $2,033.32 and a 200 day moving average price of $1,851.27.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Citigroup raised their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald decreased their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.