Rakuten Securities Inc. Sells 7 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Rakuten Securities Inc. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 20.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27 shares of the company’s stock after selling 7 shares during the period. Rakuten Securities Inc.’s holdings in MercadoLibre were worth $55,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MELI. Raymond James & Associates lifted its position in MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Caprock Group LLC boosted its position in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares in the last quarter. Sarasin & Partners LLP grew its stake in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in MercadoLibre during the 2nd quarter valued at about $875,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent analyst reports. Susquehanna lifted their target price 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. Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Finally, Citigroup raised their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,286.33.

MercadoLibre Stock Up 0.8 %

NASDAQ MELI opened at $1,977.39 on Wednesday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year 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 business has a fifty day moving average price of $2,044.44 and a 200 day moving average price of $1,832.95. The company has a market cap of $100.25 billion, a P/E ratio of 69.77, a P/E/G ratio of 1.31 and a beta of 1.61.

About MercadoLibre

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.