Ninety One UK Ltd Sells 31 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ninety One UK Ltd cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 859 shares of the company’s stock after selling 31 shares during the period. Ninety One UK Ltd’s holdings in MercadoLibre were worth $1,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $114,417,000. Principal Financial Group Inc. increased its stake in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the last quarter. KBC Group NV increased its stake in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on 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 owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

MercadoLibre Trading Up 0.4 %

Shares of MercadoLibre stock opened at $1,975.19 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market cap of $100.14 billion, a P/E ratio of 69.70, a P/E/G ratio of 1.02 and a beta of 1.62. 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 business’s 50 day moving average is $1,832.94 and its 200-day moving average is $1,923.74.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MELI shares. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Morgan Stanley decreased their price objective on 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. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $2,244.69.

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.