MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 50.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,591 shares of the company’s stock after selling 10,975 shares during the period. Worldquant Millennium Advisors LLC’s holdings in MercadoLibre were worth $21,732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Jennison Associates LLC lifted its position in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. FMR LLC boosted its position in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the period. State Street Corp grew its holdings in shares of MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares in the last quarter. Legal & General Group Plc raised its position in MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in MercadoLibre by 17.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after acquiring an additional 40,361 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Activity

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 value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,947.18 on Friday. The business has a fifty day moving average of $2,009.14 and a 200-day moving average of $1,874.33. The firm has a market cap of $98.72 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Susquehanna increased their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Finally, Cantor Fitzgerald lowered 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. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.