Zurcher Kantonalbank Zurich Cantonalbank Has $49.45 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,097 shares of the company’s stock after selling 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MercadoLibre were worth $49,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. boosted its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the second quarter worth $36,000. Legacy Bridge LLC grew its stake in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the last quarter. Finally, Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at $43,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 3.1 %

MercadoLibre stock opened at $2,044.76 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market cap of $103.67 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.39 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm’s 50-day simple moving average is $2,023.33 and its 200 day simple moving average is $1,865.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America upped their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Finally, Morgan Stanley dropped their price target on 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. Three investment 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 MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.