XTX Topco Ltd Has $4.20 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

XTX Topco Ltd increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 315.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,046 shares of the company’s stock after buying an additional 1,554 shares during the period. MercadoLibre accounts for 0.3% of XTX Topco Ltd’s portfolio, making the stock its 22nd largest holding. XTX Topco Ltd’s holdings in MercadoLibre were worth $4,198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors increased its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in MercadoLibre during the second quarter valued at about $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the second quarter worth about $43,000. Finally, Legacy Bridge LLC boosted its stake in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,947.18 on Friday. The stock’s 50 day simple moving average is $2,009.14 and its 200-day simple moving average is $1,874.33. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $98.72 billion, a PE ratio of 68.71, a P/E/G ratio of 1.35 and a beta of 1.57. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Three 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. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.