Paragon Advisors LLC Has $2.38 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Paragon Advisors LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,159 shares of the company’s stock after selling 15 shares during the period. Paragon Advisors LLC’s holdings in MercadoLibre were worth $2,379,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MELI. Capital World Investors boosted its stake in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares in the last quarter. GQG Partners LLC boosted its stake in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Janus Henderson Group PLC grew its holdings 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 valued at $557,225,000 after purchasing an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc increased its position in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MELI shares. JPMorgan Chase & Co. decreased 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 note on Wednesday. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Performance

MELI stock opened at $1,880.00 on Friday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $2,037.61 and a 200-day moving average price of $1,840.97. The firm has a market cap of $95.32 billion, a PE ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

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.