Harbour Investments Inc. Sells 67 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Harbour Investments Inc. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 822 shares of the company’s stock after selling 67 shares during the quarter. Harbour Investments Inc.’s holdings in MercadoLibre were worth $1,687,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Belpointe Asset Management LLC increased its holdings in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC increased its stake in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares during the last quarter. Strategic Blueprint LLC lifted its stake in shares of MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares during the last quarter. Finally, Hilltop National Bank boosted its holdings in shares of MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after purchasing an additional 7 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Citigroup upped their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group raised their price objective 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. Finally, Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have given 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 price target of $2,269.67.

MercadoLibre Trading Down 2.3 %

NASDAQ MELI opened at $1,930.95 on Thursday. 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 quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $97.90 billion, a price-to-earnings ratio of 68.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The company’s 50-day simple moving average is $2,044.19 and its two-hundred day simple moving average is $1,836.97.

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.