Thrivent Financial for Lutherans Has $404,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Thrivent Financial for Lutherans lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 197 shares of the company’s stock after buying an additional 21 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MercadoLibre were worth $404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc raised its stake in 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 purchasing an additional 11,265 shares in the last quarter. Royal London Asset Management Ltd. lifted its position 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 worth $455,560,000 after purchasing an additional 40,361 shares during the period. Canada Pension Plan Investment Board lifted its position 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 worth $424,745,000 after purchasing an additional 27,832 shares during the period. International Assets Investment Management LLC lifted its position in shares of 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. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of MercadoLibre by 3.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 231,887 shares of the company’s stock valued at $475,823,000 after acquiring an additional 7,291 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MELI shares. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Down 0.1 %

Shares of NASDAQ MELI opened at $1,984.95 on Friday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. 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’s 50 day simple moving average is $2,009.14 and its two-hundred day simple moving average is $1,874.33. The stock has a market capitalization of $100.64 billion, a P/E ratio of 70.04, a PEG ratio of 1.31 and a beta of 1.57.

MercadoLibre Company 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.