MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 400,142 shares of the company’s stock after selling 30,324 shares during the period. Franklin Resources Inc. owned approximately 0.79% of MercadoLibre worth $832,268,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MELI. Tidal Investments LLC boosted its stake in MercadoLibre by 59.7% during the third quarter. Tidal Investments LLC now owns 15,829 shares of the company’s stock valued at $32,480,000 after buying an additional 5,918 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in MercadoLibre during the third quarter valued at about $977,000. World Investment Advisors LLC boosted its stake in MercadoLibre by 35.7% during the third quarter. World Investment Advisors LLC now owns 475 shares of the company’s stock valued at $975,000 after buying an additional 125 shares in the last quarter. Anchor Investment Management LLC boosted its stake in MercadoLibre by 19.1% during the third quarter. Anchor Investment Management LLC now owns 629 shares of the company’s stock valued at $1,291,000 after buying an additional 101 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $12,784,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MELI shares. Wedbush reiterated an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three 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 company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,870.77 on Friday. 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 business’s 50 day moving average is $1,995.67 and its two-hundred day moving average is $1,879.48. The company has a market cap of $94.85 billion, a P/E ratio of 66.01, a P/E/G ratio of 1.29 and a beta of 1.57. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.