BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 16.6% in the third quarter, Holdings Channel.com reports. The firm owned 24,338 shares of the company’s stock after selling 4,859 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in MercadoLibre were worth $49,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MELI. Vanguard Group Inc. lifted its position in shares of MercadoLibre by 4.1% in the first quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock valued at $287,061,000 after acquiring an additional 7,468 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of MercadoLibre in the first quarter worth about $213,000. Beck Capital Management LLC grew its holdings in MercadoLibre by 24.6% during the 1st quarter. Beck Capital Management LLC now owns 2,494 shares of the company’s stock worth $3,771,000 after acquiring an additional 493 shares in the last quarter. Tremblant Capital Group bought a new position in shares of MercadoLibre in the 1st quarter worth about $30,963,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in MercadoLibre in the first quarter valued at approximately $12,761,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Morgan Stanley cut their price objective 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. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Barclays cut their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Susquehanna raised their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Trading Up 1.7 %

Shares of NASDAQ:MELI opened at $1,965.00 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a market capitalization of $99.63 billion, a P/E ratio of 69.34, a P/E/G ratio of 1.31 and a beta of 1.61. The business’s 50 day simple moving average is $2,027.52 and its 200 day simple moving average is $1,852.61.

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.