Insider Selling: MercadoLibre, Inc. (NASDAQ:MELI) Director Sells 50 Shares of Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

MercadoLibre Stock Down 2.9 %

Shares of NASDAQ:MELI traded down $59.59 during trading on Monday, reaching $1,985.17. 374,242 shares of the stock were exchanged, compared to its average volume of 369,636. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The stock has a fifty day moving average of $2,020.96 and a two-hundred day moving average of $1,869.98. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $100.65 billion, a price-to-earnings ratio of 70.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors increased its holdings in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in MercadoLibre in the 2nd quarter valued at $36,000. Legacy Bridge LLC lifted its position in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. Finally, Quarry LP bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. BTIG Research dropped their price objective 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. Finally, Citigroup reduced their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,267.67.

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.