BNP Paribas Sells 224 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

BNP Paribas trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,921 shares of the company’s stock after selling 224 shares during the period. BNP Paribas’ holdings in MercadoLibre were worth $12,149,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its position in MercadoLibre by 1,600.0% during 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 position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new position in MercadoLibre during the second quarter worth $36,000. Quarry LP acquired a new position in MercadoLibre during the second quarter worth $43,000. Finally, Legacy Bridge LLC grew its position in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

MELI has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Wedbush restated an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Up 0.5 %

NASDAQ MELI opened at $2,110.00 on Wednesday. The company has a 50 day moving average of $2,025.78 and a 200-day moving average of $1,862.98. The company has a market cap of $106.98 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 1.43 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

About MercadoLibre

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.