Northcape Capital Pty Ltd Has $129.68 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Northcape Capital Pty Ltd lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,262 shares of the company’s stock after selling 8,461 shares during the quarter. MercadoLibre comprises 20.7% of Northcape Capital Pty Ltd’s portfolio, making the stock its 3rd biggest holding. Northcape Capital Pty Ltd owned 0.15% of MercadoLibre worth $129,679,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MELI. Range Financial Group LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth about $296,000. CWA Asset Management Group LLC purchased a new position in MercadoLibre during the 4th quarter valued at approximately $4,623,000. Nordea Investment Management AB increased its stake in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after acquiring an additional 43,215 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of MercadoLibre by 123.1% during the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after acquiring an additional 16 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,771.22 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $89.80 billion, a PE ratio of 62.50, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The firm’s 50 day simple moving average is $1,889.35 and its 200-day simple moving average is $1,898.75. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MELI. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday. Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Barclays lowered their price objective on 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. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,261.00.

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.