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

Penserra Capital Management LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MELI. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the period. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $2,913,000. Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $121,137,000. Finally, Swedbank AB raised its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on MELI. Cantor Fitzgerald reduced their price objective on 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. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Finally, Susquehanna increased their target price 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. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,005.00 on Friday. The business’s fifty day moving average price is $2,025.17 and its two-hundred day moving average price is $1,856.21. The stock 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 debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

MercadoLibre Company 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.