Jennison Associates LLC Lowers Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Jennison Associates LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 39.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,135,385 shares of the company’s stock after selling 738,534 shares during the quarter. MercadoLibre makes up about 1.2% of Jennison Associates LLC’s portfolio, making the stock its 19th biggest holding. Jennison Associates LLC’s holdings in MercadoLibre were worth $1,930,655,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the last quarter. FMR LLC grew its position in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Swedbank AB raised its stake in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in MercadoLibre in the third quarter valued at $114,417,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on MELI shares. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the company from $2,000.00 to $2,300.00 in a research note on Thursday. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Citigroup lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Stock Down 1.3 %

Shares of NASDAQ MELI opened at $1,922.19 on Monday. 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 company’s fifty day simple moving average is $1,839.63 and its 200 day simple moving average is $1,919.50. The firm has a market cap of $97.46 billion, a PE ratio of 67.83, a P/E/G ratio of 1.02 and a beta of 1.62.

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.