International Assets Investment Management LLC Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

International Assets Investment Management LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 99.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130 shares of the company’s stock after selling 248,172 shares during the period. International Assets Investment Management LLC’s holdings in MercadoLibre were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC boosted its holdings in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares in the last quarter. FMR LLC boosted its holdings in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares in the last quarter. State Street Corp boosted its holdings in MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after buying an additional 12,000 shares in the last quarter. Wellington Management Group LLP boosted its holdings in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. BTIG Research cut their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup cut their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Three 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,247.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,740.00 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $88.21 billion, a P/E ratio of 61.40, a P/E/G ratio of 1.24 and a beta of 1.60. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm’s 50 day moving average is $1,865.35 and its two-hundred day moving average is $1,901.65.

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.