Blueshift Asset Management LLC Acquires 299 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Blueshift Asset Management LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 153.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 494 shares of the company’s stock after acquiring an additional 299 shares during the period. Blueshift Asset Management LLC’s holdings in MercadoLibre were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in 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 acquiring an additional 16 shares during the period. Optimum Investment Advisors grew its stake in shares of 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. acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at $36,000. Quarry LP bought a new stake in MercadoLibre during the 2nd quarter worth $43,000. Finally, Legacy Bridge LLC increased its holdings in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Barclays cut their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. 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. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Susquehanna increased their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,110.00 on Wednesday. The business has a 50-day simple moving average of $2,025.78 and a 200 day simple moving average of $1,862.98. 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 current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $106.98 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 1.43 and a beta of 1.61.

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.