MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Northstar Asset Management Inc.

Northstar Asset Management Inc. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 51.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102 shares of the company’s stock after selling 108 shares during the period. Northstar Asset Management Inc.’s holdings in MercadoLibre were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of 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 during the period. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre during the 2nd quarter valued at about $36,000. Quarry LP purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. increased its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MELI shares. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup raised their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Finally, Barclays lifted their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,090.01 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The business has a 50 day simple moving average of $2,052.64 and a 200 day simple moving average of $1,817.26. The stock has a market cap of $105.96 billion, a price-to-earnings ratio of 75.53, a PEG ratio of 1.25 and a beta of 1.61.

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.