MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Aragon Global Management LP

Aragon Global Management LP increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 48.1% during the third quarter, Holdings Channel reports. The institutional investor owned 3,651 shares of the company’s stock after purchasing an additional 1,185 shares during the quarter. MercadoLibre comprises 3.1% of Aragon Global Management LP’s holdings, making the stock its 10th biggest position. Aragon Global Management LP’s holdings in MercadoLibre were worth $7,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC increased its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares during the period. Legal & General Group Plc increased its holdings in MercadoLibre by 3.6% in the 2nd 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 during the period. Royal London Asset Management Ltd. lifted its holdings in shares of MercadoLibre by 17.0% during the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after acquiring an additional 40,361 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of MercadoLibre by 12.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after acquiring an additional 27,832 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 2.9 %

Shares of MELI opened at $1,985.17 on Friday. The business’s fifty day moving average price is $2,020.96 and its two-hundred day moving average price is $1,867.64. The firm has a market capitalization of $100.64 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.39 and a beta of 1.61. 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley dropped their price objective on 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. Finally, 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 report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

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.