Board of the Pension Protection Fund Invests $340,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Board of the Pension Protection Fund purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 200 shares of the company’s stock, valued at approximately $340,000.

Several other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted 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 in the last quarter. FMR LLC boosted its stake in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. State Street Corp grew its holdings in shares of MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of MercadoLibre by 3.6% in 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 during the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Cantor Fitzgerald lowered 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. Finally, JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Three 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, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,247.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,753.61 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm has a fifty day moving average of $1,858.62 and a 200-day moving average of $1,902.43. The firm has a market capitalization of $88.90 billion, a price-to-earnings ratio of 61.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

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.