MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 165.9% during the third quarter, Holdings Channel reports. The firm owned 2,313 shares of the company’s stock after acquiring an additional 1,443 shares during the quarter. MercadoLibre makes up about 1.0% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 23rd largest holding. Pier 88 Investment Partners LLC’s holdings in MercadoLibre were worth $4,746,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC increased its holdings in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares during the period. International Assets Investment Management LLC boosted its stake in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in MercadoLibre in the 2nd quarter valued at about $2,913,000. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Finally, Susquehanna upped their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Down 2.3 %

Shares of NASDAQ MELI opened at $1,930.95 on Thursday. The firm’s 50 day moving average price is $2,044.19 and its 200 day moving average price is $1,836.97. 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 $97.90 billion, a P/E ratio of 68.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year 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.