MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 58.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 876 shares of the company’s stock after selling 1,219 shares during the quarter. Point72 Hong Kong Ltd’s holdings in MercadoLibre were worth $1,799,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MELI. Jennison Associates LLC raised its stake in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC raised its stake in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Legal & General Group Plc grew its position in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after acquiring an additional 11,265 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of MercadoLibre by 17.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock valued at $455,560,000 after acquiring an additional 40,361 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of MercadoLibre by 12.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after acquiring an additional 27,832 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several research analyst reports. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. BTIG Research lowered 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 report on Thursday, November 7th. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price 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 assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,985.17 on Monday. The firm’s 50-day simple moving average is $2,020.96 and its 200 day simple moving average is $1,869.98. The stock has a market cap of $100.65 billion, a P/E ratio of 70.05, a P/E/G ratio of 1.35 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.