MercadoLibre, Inc. $MELI Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,103 shares of the company’s stock after purchasing an additional 7,570 shares during the period. Principal Financial Group Inc. owned about 0.09% of MercadoLibre worth $112,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in MercadoLibre during the third quarter worth about $35,000. Cullen Frost Bankers Inc. raised its position in MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares in the last quarter. Curio Wealth LLC lifted its holdings in MercadoLibre by 1,400.0% in the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Finally, Stone House Investment Management LLC purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $39,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The SEC filing for this sale provides additional information. Insiders sold a total of 1,136 shares of company stock worth $2,308,788 in the last 90 days. Insiders own 0.25% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,146.75 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market capitalization of $108.84 billion, a PE ratio of 52.39, a P/E/G ratio of 1.07 and a beta of 1.44. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The company has a fifty day moving average of $2,075.77 and a two-hundred day moving average of $2,214.13.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MELI. Barclays raised their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Benchmark dropped their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, Morgan Stanley increased their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,876.88.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.