Sarasin & Partners LLP Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Sarasin & Partners LLP raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,516 shares of the company’s stock after buying an additional 662 shares during the period. MercadoLibre makes up approximately 1.2% of Sarasin & Partners LLP’s portfolio, making the stock its 25th largest position. Sarasin & Partners LLP’s holdings in MercadoLibre were worth $111,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Optimum Investment Advisors raised its holdings in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust raised its stake in MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Legacy Bridge LLC increased its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares during the period. Quarry LP acquired a new position in MercadoLibre in the second quarter valued at $43,000. Finally, NBC Securities Inc. increased its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.1 %

MELI stock opened at $1,836.00 on Monday. The company has a market cap of $93.09 billion, a P/E ratio of 64.78, a P/E/G ratio of 0.92 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company’s 50-day moving average price is $1,853.58 and its 200 day moving average price is $1,905.33. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Raymond James assumed coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Wedbush dropped their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley lowered 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 report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,247.67.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

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.