Public Sector Pension Investment Board Sells 1,968 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Public Sector Pension Investment Board decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,107 shares of the company’s stock after selling 1,968 shares during the period. Public Sector Pension Investment Board’s holdings in MercadoLibre were worth $18,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew 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 acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new stake in MercadoLibre during the 2nd quarter worth $36,000. Quarry LP bought a new stake in MercadoLibre during the 2nd quarter worth $43,000. Finally, Legacy Bridge LLC grew its position in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MELI shares. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. BTIG Research reduced their price target on 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. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Citigroup dropped their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,044.76 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market cap of $103.67 billion, a P/E ratio of 72.15, a PEG ratio of 1.39 and a beta of 1.61. The company has a 50 day moving average of $2,023.33 and a 200 day moving average of $1,865.50. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

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.