MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,613 shares of the company’s stock after selling 952 shares during the quarter. Penserra Capital Management LLC’s holdings in MercadoLibre were worth $36,139,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates boosted its holdings in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the last quarter. KBC Group NV increased its stake in MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares during the last quarter. Caprock Group LLC raised its holdings in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP lifted its stake in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Finally, Parnassus Investments LLC grew its holdings in shares of MercadoLibre by 3.0% during the 3rd quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock worth $30,580,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Cantor Fitzgerald reduced 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 report on Thursday, November 7th. Morgan Stanley decreased 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. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ:MELI opened at $2,005.00 on Friday. The firm has a market cap of $101.65 billion, a PE ratio of 70.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The company has a fifty day simple moving average of $2,025.17 and a 200 day simple moving average of $1,856.21. The company has a current ratio of 1.25, a quick ratio of 1.22 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.

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.