STF Management LP Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

STF Management LP lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 735 shares of the company’s stock after selling 86 shares during the period. STF Management LP’s holdings in MercadoLibre were worth $1,508,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MELI. International Assets Investment Management LLC grew its stake in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 43.2% in 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 during the period. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $2,913,000. Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $121,137,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $1,965.00 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm’s fifty day simple moving average is $2,027.52 and its 200-day simple moving average is $1,852.61. The firm has a market capitalization of $99.63 billion, a price-to-earnings ratio of 69.34, a PEG ratio of 1.31 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Company 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.