Harel Insurance Investments & Financial Services Ltd. Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 267 shares of the company’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Grove Bank & Trust increased its stake in MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Quarry LP acquired a new stake in MercadoLibre during the second quarter worth approximately $43,000. Legacy Bridge LLC lifted its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after buying an additional 8 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of MercadoLibre by 123.1% in the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after buying an additional 16 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated 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 sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

MercadoLibre Price Performance

MELI stock opened at $1,843.45 on Friday. The company has a market cap of $93.46 billion, a price-to-earnings ratio of 65.05, a PEG ratio of 0.96 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $1,845.02 and a 200-day moving average of $1,909.29. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73.

Analysts Set New Price Targets

Several research firms have issued reports on MELI. Wedbush decreased their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. 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 report on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,241.00.

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.