22 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, Holdings Channel reports. The firm purchased 22 shares of the company’s stock, valued at approximately $37,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre during the 3rd quarter valued at about $114,417,000. Principal Financial Group Inc. grew its position in MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the last quarter. KBC Group NV raised its stake in shares of MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after purchasing an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,066.15 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The stock has a market cap of $104.75 billion, a price-to-earnings ratio of 72.91, a PEG ratio of 1.06 and a beta of 1.62. The stock’s 50 day simple moving average is $1,835.63 and its two-hundred day simple moving average is $1,936.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wedbush lowered their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley dropped their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus price target of $2,244.69.

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.