GenTrust LLC Sells 211 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

GenTrust LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% in the 3rd quarter, Holdings Channel reports. The fund owned 5,267 shares of the company’s stock after selling 211 shares during the quarter. GenTrust LLC’s holdings in MercadoLibre were worth $10,808,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in MercadoLibre by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock valued at $287,061,000 after buying an additional 7,468 shares in the last quarter. CreativeOne Wealth LLC bought a new position in MercadoLibre during the 1st quarter valued at approximately $213,000. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Kora Management LP bought a new position in MercadoLibre during the 1st quarter valued at approximately $22,226,000. Finally, Jericho Capital Asset Management L.P. bought a new position in MercadoLibre during the 1st quarter valued at approximately $26,284,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MELI shares. Cantor Fitzgerald cut their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Redburn Atlantic started coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Citigroup increased their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Finally, BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Trading Up 1.9 %

MELI opened at $2,005.00 on Friday. The firm has a market cap of $101.65 billion, a P/E ratio of 70.75, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. 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 50-day moving average of $2,025.17 and a 200 day moving average of $1,855.05.

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.