Principal Financial Group Inc. Purchases 26,013 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Principal Financial Group Inc. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 43.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,443 shares of the company’s stock after purchasing an additional 26,013 shares during the quarter. Principal Financial Group Inc. owned 0.17% of MercadoLibre worth $145,291,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. raised its holdings in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $32,000. Mather Group LLC. grew its position in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the period. Finally, Grove Bank & Trust raised its stake in MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.1 %

Shares of NASDAQ:MELI opened at $2,109.99 on Tuesday. The firm has a market capitalization of $106.98 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The business has a 50 day simple moving average of $1,840.51 and a two-hundred day simple moving average of $1,945.14. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Barclays lowered 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 note on Tuesday, November 12th. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $2,244.69.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was 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 in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.