MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,667 shares of the company’s stock after purchasing an additional 344 shares during the quarter. CIBC Asset Management Inc’s holdings in MercadoLibre were worth $17,784,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MELI. Kingsview Wealth Management LLC boosted its holdings in shares of MercadoLibre by 5.2% in the first quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock valued at $552,000 after acquiring an additional 18 shares in the last quarter. Blair William & Co. IL increased its position in shares of MercadoLibre by 3.5% during the 1st quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock valued at $3,106,000 after purchasing an additional 70 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of MercadoLibre by 56.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock worth $1,155,000 after buying an additional 275 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of MercadoLibre by 9.6% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 148 shares of the company’s stock valued at $224,000 after buying an additional 13 shares during the period. Finally, Banco Santander S.A. boosted its stake in MercadoLibre by 118.6% during the first quarter. Banco Santander S.A. now owns 1,080 shares of the company’s stock valued at $1,633,000 after buying an additional 586 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.2 %

MercadoLibre stock opened at $1,880.00 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve 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 firm has a market cap of $95.32 billion, a PE ratio of 66.34, a P/E/G ratio of 1.31 and a beta of 1.61. The firm’s 50 day moving average price is $2,039.73 and its two-hundred day moving average price is $1,837.90.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley cut their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,269.67.

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.