Mission Creek Capital Partners Inc. Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Mission Creek Capital Partners Inc. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.8% in the third quarter, Holdings Channel.com reports. The fund owned 790 shares of the company’s stock after selling 40 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in MercadoLibre were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MELI. Jennison Associates LLC increased its position in shares of MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC lifted its stake in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares during the last quarter. Legal & General Group Plc lifted its stake in MercadoLibre by 3.6% in 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 last quarter. Royal London Asset Management Ltd. grew its position in shares of MercadoLibre by 17.0% during the second 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 during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of MercadoLibre by 12.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after acquiring an additional 27,832 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent research reports. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays lowered their target price 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. Finally, Morgan Stanley cut their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,929.49 on Wednesday. The firm’s fifty day simple moving average is $2,014.32 and its 200-day simple moving average is $1,872.75. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $97.83 billion, a PE ratio of 68.08, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.