MercadoLibre, Inc. $MELI Position Cut by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,161 shares of the company’s stock after selling 2,913 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in MercadoLibre were worth $58,800,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MELI. Jennison Associates LLC grew its stake in shares of MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Lavaca Capital LLC raised its stake in shares of MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares in the last quarter. Schroder Investment Management Group lifted its holdings in MercadoLibre by 16.6% in the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after purchasing an additional 74,201 shares during the period. WCM Investment Management LLC grew its position in MercadoLibre by 0.4% in the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after buying an additional 1,833 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in MercadoLibre by 3.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock valued at $709,535,000 after buying an additional 9,474 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,136 shares of company stock worth $2,308,788 in the last three months. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. BTIG Research reissued a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Wednesday, February 4th. Wedbush decreased their price target on MercadoLibre from $2,700.00 to $2,600.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Barclays lifted their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Benchmark cut their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,872.00.

MercadoLibre Trading Up 0.0%

MercadoLibre stock opened at $1,996.87 on Friday. The firm has a market cap of $101.24 billion, a price-to-earnings ratio of 48.73, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The firm’s 50 day moving average price is $2,062.15 and its two-hundred day moving average price is $2,179.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.