DAVENPORT & Co LLC Acquires 222 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

DAVENPORT & Co LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,009 shares of the company’s stock after acquiring an additional 222 shares during the period. DAVENPORT & Co LLC’s holdings in MercadoLibre were worth $8,518,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre during the third quarter worth $114,417,000. Principal Financial Group Inc. boosted its position in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after buying an additional 10,272 shares during the period. KBC Group NV increased its position in shares of MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares during the period. Nordea Investment Management AB raised its stake in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after purchasing an additional 780 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.3 %

NASDAQ:MELI opened at $1,922.19 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market cap of $97.46 billion, a PE ratio of 67.83, a P/E/G ratio of 1.00 and a beta of 1.60. The company’s 50 day moving average is $1,839.63 and its two-hundred day moving average is $1,917.75.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays cut their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday. Finally, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,244.69.

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.