Sumitomo Mitsui Trust Group Inc. Buys 3,710 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Sumitomo Mitsui Trust Group Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,597 shares of the company’s stock after purchasing an additional 3,710 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in MercadoLibre were worth $400,619,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC grew its holdings in MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after buying an additional 181,849 shares in the last quarter. Leo Wealth LLC grew its stake in shares of MercadoLibre by 53.4% in the fourth quarter. Leo Wealth LLC now owns 623 shares of the company’s stock valued at $1,060,000 after acquiring an additional 217 shares in the last quarter. Deltec Asset Management LLC increased its position in MercadoLibre by 7.7% during the fourth quarter. Deltec Asset Management LLC now owns 1,400 shares of the company’s stock worth $2,381,000 after acquiring an additional 100 shares during the period. Nvwm LLC raised its stake in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in MercadoLibre by 76.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,173 shares of the company’s stock valued at $50,898,000 after purchasing an additional 13,081 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.9 %

Shares of MELI opened at $2,012.80 on Friday. 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, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of 71.02, a PEG ratio of 1.02 and a beta of 1.62. The stock has a fifty day moving average of $1,831.55 and a 200-day moving average of $1,924.10.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MELI shares. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Citigroup dropped their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Redburn Atlantic started coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,244.69.

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.