Griffin Asset Management Inc. Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Griffin Asset Management Inc. decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,949 shares of the company’s stock after selling 74 shares during the period. Griffin Asset Management Inc.’s holdings in MercadoLibre were worth $3,314,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the period. FMR LLC increased its stake in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Swedbank AB lifted its stake in shares of MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of 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 period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research cut their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Wedbush reduced their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,241.00.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,846.00 on Tuesday. The business has a 50 day simple moving average of $1,844.29 and a 200-day simple moving average of $1,913.18. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market capitalization of $93.59 billion, a price-to-earnings ratio of 65.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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.