Fmr LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Fmr LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.6% during the 3rd quarter, Holdings Channel reports. The firm owned 878,996 shares of the company’s stock after acquiring an additional 137,564 shares during the quarter. Fmr LLC’s holdings in MercadoLibre were worth $1,803,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Jennison Associates LLC grew its position in 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 purchasing an additional 70,154 shares during the last quarter. Legal & General Group Plc lifted its stake in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares during the period. Royal London Asset Management Ltd. lifted its stake in MercadoLibre by 17.0% during 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 period. Canada Pension Plan Investment Board lifted its stake in MercadoLibre by 12.1% during 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 period. Finally, International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MELI shares. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Finally, Cantor Fitzgerald decreased their target price 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 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,110.00 on Wednesday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The stock has a market capitalization of $106.98 billion, a PE ratio of 74.45, a P/E/G ratio of 1.43 and a beta of 1.61. The company has a fifty day moving average of $2,025.78 and a two-hundred day moving average of $1,862.98. 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 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.