MercadoLibre, Inc. (NASDAQ:MELI) Director Sells $99,249.00 in Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

MercadoLibre Price Performance

MELI stock opened at $1,952.44 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $98.98 billion, a price-to-earnings ratio of 68.89, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61. The business has a fifty day moving average of $2,020.96 and a two-hundred day moving average of $1,869.98.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $2,913,000. FMR LLC raised its position in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP lifted 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 worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of MercadoLibre during the second quarter worth $121,137,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the subject of several research reports. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. BTIG Research decreased their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Citigroup dropped 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, Cantor Fitzgerald decreased their price target 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. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.