Swiss National Bank Purchases 300 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Swiss National Bank boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,400 shares of the company’s stock after acquiring an additional 300 shares during the period. Swiss National Bank owned 0.27% of MercadoLibre worth $277,835,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Kingsview Wealth Management LLC increased its stake in MercadoLibre by 5.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock worth $552,000 after acquiring an additional 18 shares during the period. Blair William & Co. IL increased its stake in MercadoLibre by 3.5% during the 1st quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock worth $3,106,000 after acquiring an additional 70 shares during the period. Orion Portfolio Solutions LLC increased its stake in MercadoLibre by 56.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock worth $1,155,000 after acquiring an additional 275 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in MercadoLibre by 9.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 148 shares of the company’s stock worth $224,000 after acquiring an additional 13 shares during the period. Finally, Vanguard Group Inc. increased its stake in MercadoLibre by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock worth $287,061,000 after acquiring an additional 7,468 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MELI. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley reduced their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Three 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 stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Up 0.2 %

Shares of NASDAQ:MELI opened at $1,880.00 on Friday. The firm has a market cap of $95.32 billion, a P/E ratio of 66.34, a P/E/G ratio of 1.27 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The business has a fifty day simple moving average of $2,037.61 and a 200 day simple moving average of $1,843.64.

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.