Forsta AP Fonden Decreases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Forsta AP Fonden cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 25.6% during the 4th quarter, HoldingsChannel reports. The fund owned 9,600 shares of the company’s stock after selling 3,300 shares during the quarter. Forsta AP Fonden’s holdings in MercadoLibre were worth $16,324,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of MercadoLibre by 39.9% in the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock worth $386,000 after buying an additional 67 shares during the period. Mackenzie Financial Corp increased its stake in shares of MercadoLibre by 3.0% in the second quarter. Mackenzie Financial Corp now owns 1,727 shares of the company’s stock worth $2,838,000 after buying an additional 51 shares during the period. Algert Global LLC increased its stake in shares of MercadoLibre by 30.0% in the second quarter. Algert Global LLC now owns 390 shares of the company’s stock worth $641,000 after buying an additional 90 shares during the period. Creative Planning increased its stake in shares of MercadoLibre by 44.6% in the second quarter. Creative Planning now owns 6,027 shares of the company’s stock worth $9,904,000 after buying an additional 1,859 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of MercadoLibre by 92.6% in the second quarter. NewEdge Advisors LLC now owns 3,678 shares of the company’s stock worth $6,044,000 after buying an additional 1,768 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on MELI. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Citigroup reduced their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,241.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,889.76 on Thursday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company’s 50-day moving average is $1,842.47 and its 200 day moving average is $1,915.10. The company has a market capitalization of $95.81 billion, a price-to-earnings ratio of 66.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

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.