Comgest Global Investors S.A.S. Has $90.27 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Comgest Global Investors S.A.S. lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,994 shares of the company’s stock after selling 7,746 shares during the period. MercadoLibre accounts for about 1.3% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 18th largest position. Comgest Global Investors S.A.S. owned approximately 0.09% of MercadoLibre worth $90,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors increased its stake in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in MercadoLibre during the 2nd quarter valued at $36,000. Quarry LP bought a new stake in MercadoLibre during the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. increased its stake in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MELI shares. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Citigroup upped their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America upped their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Stock Performance

NASDAQ MELI traded up $3.80 during trading on Friday, hitting $1,880.00. 463,972 shares of the company’s stock traded hands, compared to its average volume of 368,186. The stock has a market capitalization of $95.32 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a 50 day moving average of $2,037.61 and a 200-day moving average of $1,840.97.

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.