Geode Capital Management LLC Has $115.27 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Geode Capital Management LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,131 shares of the company’s stock after selling 166 shares during the quarter. Geode Capital Management LLC owned approximately 0.11% of MercadoLibre worth $115,266,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MELI. Citigroup decreased their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. BTIG Research dropped their target price on 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. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Susquehanna raised their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Finally, Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,809.12 on Wednesday. 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 firm has a 50-day moving average price of $1,985.52 and a 200 day moving average price of $1,884.07. The firm has a market capitalization of $91.72 billion, a PE ratio of 63.84, a price-to-earnings-growth 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.

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.