Tybourne Capital Management HK Ltd. Sells 17,569 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Tybourne Capital Management HK Ltd. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 94.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,077 shares of the company’s stock after selling 17,569 shares during the period. MercadoLibre makes up approximately 0.6% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 19th biggest holding. Tybourne Capital Management HK Ltd.’s holdings in MercadoLibre were worth $2,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its stake in shares of MercadoLibre by 2.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,022 shares of the company’s stock worth $1,545,000 after purchasing an additional 22 shares in the last quarter. Comerica Bank raised its position in MercadoLibre by 14.4% during the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock valued at $3,127,000 after purchasing an additional 260 shares in the last quarter. Swedbank AB bought a new stake in shares of MercadoLibre during the 1st quarter worth $30,037,000. Cetera Investment Advisers lifted its holdings in shares of MercadoLibre by 290.7% in the first quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock worth $8,726,000 after acquiring an additional 4,294 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in MercadoLibre by 107.3% in the 1st quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after purchasing an additional 1,029 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,044.76 on Thursday. The company has a market capitalization of $103.67 billion, a P/E ratio of 72.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company’s 50-day moving average is $2,024.62 and its 200 day moving average is $1,864.25.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent research reports. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Susquehanna raised their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, BTIG Research decreased their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. 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 stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

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.