Platform Technology Partners Purchases Shares of 122 MercadoLibre, Inc. (NASDAQ:MELI)

Platform Technology Partners purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 122 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of MercadoLibre by 3.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 231,887 shares of the company’s stock valued at $475,823,000 after purchasing an additional 7,291 shares in the last quarter. Patron Partners LLC acquired a new position in MercadoLibre during the 3rd quarter worth about $246,000. Waverton Investment Management Ltd lifted its position in MercadoLibre by 2.6% during the 3rd quarter. Waverton Investment Management Ltd now owns 21,136 shares of the company’s stock worth $43,344,000 after buying an additional 537 shares in the last quarter. Entropy Technologies LP acquired a new position in MercadoLibre during the 3rd quarter worth about $5,598,000. Finally, Apollon Wealth Management LLC lifted its position in MercadoLibre by 19.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 427 shares of the company’s stock valued at $876,000 after purchasing an additional 71 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.8 %

NASDAQ:MELI opened at $1,977.39 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. 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 business has a 50 day moving average price of $2,044.44 and a two-hundred day moving average price of $1,832.95. The company has a market cap of $100.25 billion, a P/E ratio of 69.77, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. Wedbush restated an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research report on Wednesday, October 2nd. Citigroup upped their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley lowered 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. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,286.33.

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.