MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 58.2% during the third quarter, Holdings Channel.com reports. The fund owned 876 shares of the company’s stock after selling 1,219 shares during the quarter. Point72 Hong Kong Ltd’s holdings in MercadoLibre were worth $1,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the second quarter worth about $43,000. Finally, Legacy Bridge LLC boosted its stake in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. BTIG Research cut their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,985.17 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a 50-day moving average of $2,020.96 and a 200-day moving average of $1,869.98. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a market capitalization of $100.65 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.35 and a beta of 1.61.

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.