MercadoLibre, Inc. $MELI Stock Holdings Lessened by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,814 shares of the company’s stock after selling 14,505 shares during the quarter. ProShare Advisors LLC owned 0.11% of MercadoLibre worth $130,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares during the period. Lavaca Capital LLC boosted its position in MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. Schroder Investment Management Group grew its stake in MercadoLibre by 16.6% in the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after purchasing an additional 74,201 shares in the last quarter. WCM Investment Management LLC grew its stake in MercadoLibre by 0.4% in the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in MercadoLibre by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock worth $709,535,000 after purchasing an additional 9,474 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Wednesday, February 4th. Wedbush dropped their price target on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research note on Friday, December 19th. Weiss Ratings downgraded shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Morgan Stanley upped their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Cantor Fitzgerald cut their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,876.88.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,970.15 on Monday. The firm has a market capitalization of $99.89 billion, a PE ratio of 48.08, a PEG ratio of 0.98 and a beta of 1.44. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $2,074.84 and its 200 day simple moving average is $2,204.17.

Insider Activity

In other news, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by insiders.

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.