MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 210 shares of the company’s stock after selling 14 shares during the period. Confluence Investment Management LLC’s holdings in MercadoLibre were worth $357,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MELI. Optimum Investment Advisors grew its stake 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 in the last quarter. Quarry LP acquired a new position in MercadoLibre in the second quarter valued at approximately $43,000. Legacy Bridge LLC raised its holdings in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. NBC Securities Inc. lifted its position in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in MercadoLibre by 41.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 34 shares of the company’s stock worth $56,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value 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. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

MercadoLibre Stock Up 3.9 %

MELI opened at $1,834.17 on Friday. The business has a 50-day moving average of $1,903.85 and a two-hundred day moving average of $1,889.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a market capitalization of $92.99 billion, a price-to-earnings ratio of 64.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MELI. Wedbush reiterated an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Cantor Fitzgerald reduced 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 report on Thursday, November 7th. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. BTIG Research lowered 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 research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

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.