Bank of Hawaii Sells 26 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Bank of Hawaii lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 492 shares of the company’s stock after selling 26 shares during the period. Bank of Hawaii’s holdings in MercadoLibre were worth $1,010,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MELI. Jennison Associates LLC grew its position in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares during the period. Legal & General Group Plc grew its holdings in MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares during the period. Royal London Asset Management Ltd. grew its holdings in MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after purchasing an additional 40,361 shares during the period. Canada Pension Plan Investment Board increased its stake in MercadoLibre by 12.1% in the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after purchasing an additional 27,832 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 1.9 %

NASDAQ:MELI opened at $2,005.00 on Monday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The firm has a 50-day moving average price of $2,025.17 and a two-hundred day moving average price of $1,857.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $101.65 billion, a price-to-earnings ratio of 70.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61.

Analysts Set New Price Targets

Several analysts have recently commented on MELI shares. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

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.