MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 976.9% in the third quarter, Holdings Channel reports. The firm owned 140 shares of the company’s stock after buying an additional 127 shares during the quarter. Zions Bancorporation N.A.’s holdings in MercadoLibre were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. GQG Partners LLC raised its stake in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. International Assets Investment Management LLC increased its stake in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD raised its position in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter worth $2,913,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.2 %

Shares of MELI opened at $1,880.00 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. The firm has a 50 day simple moving average of $2,039.73 and a 200-day simple moving average of $1,837.90. The stock has a market cap of $95.32 billion, a price-to-earnings ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre 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.