Wasatch Advisors LP Has $303.63 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Wasatch Advisors LP reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,969 shares of the company’s stock after selling 8,753 shares during the quarter. MercadoLibre makes up approximately 1.5% of Wasatch Advisors LP’s holdings, making the stock its 15th largest holding. Wasatch Advisors LP owned about 0.29% of MercadoLibre worth $303,626,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MELI. Jennison Associates LLC raised its stake in shares of MercadoLibre by 3.9% in the third 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 during the last quarter. FMR LLC raised its position in 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 purchasing an additional 137,564 shares during the last quarter. Legal & General Group Plc raised its position in MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in MercadoLibre by 17.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock valued at $455,560,000 after buying an additional 40,361 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in MercadoLibre by 12.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after buying an additional 27,832 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 2.9 %

Shares of MercadoLibre stock opened at $1,985.17 on Friday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $100.64 billion, a P/E ratio of 70.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.61. The business has a 50-day moving average of $2,020.96 and a two-hundred day moving average of $1,867.64.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MELI. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Wedbush restated an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Finally, Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Three research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.