MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Brown Capital Management LLC

Brown Capital Management LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,194 shares of the company’s stock after acquiring an additional 608 shares during the quarter. Brown Capital Management LLC’s holdings in MercadoLibre were worth $53,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James & Associates increased its stake in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the period. KBC Group NV increased its position in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares during the period. Caprock Group LLC raised its stake in MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after acquiring an additional 342 shares during the last quarter. Sarasin & Partners LLP raised its stake in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $875,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MELI. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three 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.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,931.26 on Thursday. The stock has a market capitalization of $97.91 billion, a P/E ratio of 68.15, a P/E/G ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm’s 50-day moving average is $2,031.02 and its two-hundred day moving average is $1,851.83.

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.