MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 54.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187 shares of the company’s stock after selling 224 shares during the period. Prospera Financial Services Inc’s holdings in MercadoLibre were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Planning Capital Management Corp increased its position in shares of MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares in the last quarter. Mount Lucas Management LP increased its holdings in MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after purchasing an additional 5 shares in the last quarter. Belpointe Asset Management LLC raised its position in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC boosted its position in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $2,005.00 on Monday. The stock’s 50 day simple moving average is $2,025.17 and its 200 day simple moving average is $1,857.20. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm has a market cap of $101.65 billion, a P/E ratio of 70.75, a P/E/G ratio of 1.34 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.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. The Goldman Sachs Group raised their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Barclays decreased their target price on shares of 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. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Citigroup upped their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Three investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,269.67.

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.