Baillie Gifford & Co. Sells 392,713 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Baillie Gifford & Co. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,296,426 shares of the company’s stock after selling 392,713 shares during the period. MercadoLibre makes up approximately 5.6% of Baillie Gifford & Co.’s holdings, making the stock its 2nd biggest holding. Baillie Gifford & Co. owned 8.47% of MercadoLibre worth $7,305,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC raised its holdings in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. State Street Corp raised its holdings in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 2.1 %

MELI opened at $2,109.99 on Monday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a 50-day simple moving average of $1,840.51 and a 200 day simple moving average of $1,943.21. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $106.98 billion, a price-to-earnings ratio of 74.45, a P/E/G ratio of 1.06 and a beta of 1.62.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average target price of $2,244.69.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s 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 sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

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.