MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Increased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,922 shares of the company’s stock after acquiring an additional 336 shares during the period. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $4,969,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre in the 3rd quarter worth $114,417,000. Principal Financial Group Inc. raised its stake in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after buying an additional 10,272 shares in the last quarter. KBC Group NV raised its stake in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after buying an additional 17,677 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after buying an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MELI. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and an average price target of $2,244.69.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,109.99 on Monday. The business’s 50-day moving average price is $1,840.51 and its two-hundred day moving average price is $1,945.14. 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, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a market capitalization of $106.98 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62.

MercadoLibre 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.