Knuff & Co LLC Purchases 85 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Knuff & Co LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,764 shares of the company’s stock after acquiring an additional 85 shares during the period. MercadoLibre comprises 3.0% of Knuff & Co LLC’s portfolio, making the stock its 6th largest holding. Knuff & Co LLC’s holdings in MercadoLibre were worth $9,776,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Capital World Investors lifted its stake in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares during the period. Janus Henderson Group PLC lifted its stake in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. Legal & General Group Plc boosted its holdings in shares of MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its position in shares of MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock valued at $455,560,000 after purchasing an additional 40,361 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MELI shares. 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 research report on Thursday, November 7th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Three investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,916.12 on Tuesday. The company has a market cap of $97.15 billion, a P/E ratio of 67.61, a PEG ratio of 1.28 and a beta of 1.61. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The business’s 50-day simple moving average is $2,035.34 and its 200 day simple moving average is $1,849.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

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.