MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,453 shares of the company’s stock after selling 165 shares during the period. Pathstone Holdings LLC’s holdings in MercadoLibre were worth $13,242,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% in the second 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 lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter worth approximately $36,000. Quarry LP purchased a new position in MercadoLibre in the second quarter worth approximately $43,000. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. Wedbush reiterated an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Morgan Stanley decreased their price target 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. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Finally, Bank of America lifted 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 note on Thursday, September 12th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Up 0.8 %

MELI stock opened at $1,931.26 on Thursday. The company has a fifty day moving average price of $2,031.02 and a 200 day moving average price of $1,851.83. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a market cap of $97.91 billion, a price-to-earnings ratio of 68.15, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.