Dai ichi Life Insurance Company Ltd Has $4.06 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Dai ichi Life Insurance Company Ltd cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 28.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,979 shares of the company’s stock after selling 800 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in MercadoLibre were worth $4,061,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of 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 buying an additional 11,265 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after buying an additional 40,361 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of MercadoLibre by 12.1% in the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock worth $424,745,000 after buying an additional 27,832 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.5 %

Shares of MercadoLibre stock opened at $2,110.00 on Wednesday. The firm has a market capitalization of $106.98 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. 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 company’s fifty day moving average price is $2,025.78 and its two-hundred day moving average price is $1,862.98. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of 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. dropped their target price on shares of 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. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research 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 report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.