BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 24,338 shares of the company’s stock after selling 4,859 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in MercadoLibre were worth $49,940,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Jennison Associates LLC grew its position in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares in the last quarter. Legal & General Group Plc grew its position in MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after acquiring an additional 11,265 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in MercadoLibre by 17.0% during the second 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. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley reduced 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Three research 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Trading Up 1.7 %

MELI stock opened at $1,965.00 on Friday. The firm has a fifty day moving average price of $2,027.52 and a 200 day moving average price of $1,852.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm has a market cap of $99.63 billion, a PE ratio of 69.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

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.