MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Trimmed by Caprock Group LLC

Caprock Group LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 561 shares of the company’s stock after selling 19 shares during the quarter. Caprock Group LLC’s holdings in MercadoLibre were worth $1,152,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in MercadoLibre by 4.1% in the first quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock worth $287,061,000 after purchasing an additional 7,468 shares during the period. CreativeOne Wealth LLC bought a new position in MercadoLibre during the first quarter valued at about $213,000. Beck Capital Management LLC grew its holdings in MercadoLibre by 24.6% during the first quarter. Beck Capital Management LLC now owns 2,494 shares of the company’s stock worth $3,771,000 after acquiring an additional 493 shares during the period. Tremblant Capital Group bought a new stake in MercadoLibre in the first quarter worth about $30,963,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in MercadoLibre in the 1st quarter valued at about $12,761,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,965.00 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $99.63 billion, a P/E ratio of 69.34, a P/E/G ratio of 1.31 and a beta of 1.61. The business has a 50-day moving average of $2,027.52 and a two-hundred day moving average of $1,852.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup boosted their target price 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. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Redburn Atlantic initiated coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus 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.