Paragon Advisors LLC Sells 15 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Paragon Advisors LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,159 shares of the company’s stock after selling 15 shares during the quarter. Paragon Advisors LLC’s holdings in MercadoLibre were worth $2,379,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors increased its position in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre during the second quarter worth about $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the 2nd quarter worth about $43,000. Finally, NBC Securities Inc. lifted its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MELI. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Citigroup boosted their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Trading Up 0.2 %

NASDAQ:MELI opened at $1,880.00 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $2,037.61 and its 200 day moving average is $1,840.97. The stock has a market capitalization of $95.32 billion, a PE ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

MercadoLibre Company 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.