MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,586 shares of the company’s stock after buying an additional 155 shares during the period. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $5,306,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MELI. GQG Partners LLC raised its position in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. International Assets Investment Management LLC raised its holdings in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in MercadoLibre during the second quarter worth about $2,913,000. Finally, Janus Henderson Group PLC boosted its stake in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent analyst reports. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Citigroup raised their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Barclays raised their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,063.70 on Tuesday. The company has a market cap of $104.63 billion, a P/E ratio of 74.58, a PEG ratio of 1.25 and a beta of 1.61. The firm has a fifty day moving average price of $2,051.56 and a 200 day moving average price of $1,812.10. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.