KBC Group NV Purchases 22,636 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

KBC Group NV raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 86.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,915 shares of the company’s stock after purchasing an additional 22,636 shares during the period. KBC Group NV owned 0.10% of MercadoLibre worth $83,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre in the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. raised 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. Nordea Investment Management AB lifted its stake in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of MercadoLibre by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company’s stock worth $172,613,000 after purchasing an additional 11,166 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s 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 transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several analyst reports. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup decreased 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. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,241.00.

MercadoLibre Trading Up 0.8 %

MercadoLibre stock opened at $1,843.45 on Monday. The company has a market cap of $93.46 billion, a price-to-earnings ratio of 65.05, a P/E/G ratio of 0.96 and a beta of 1.60. The firm has a 50-day moving average of $1,844.29 and a 200-day moving average of $1,911.72. 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 one year low of $1,324.99 and a one year 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.