Dakota Wealth Management Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Dakota Wealth Management reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 58.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,052 shares of the company’s stock after selling 1,493 shares during the quarter. Dakota Wealth Management’s holdings in MercadoLibre were worth $1,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the period. FMR LLC boosted its holdings in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the period. State Street Corp boosted its holdings in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP boosted its holdings in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares during the period. Finally, Legal & General Group Plc boosted its holdings in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.6 %

MELI stock opened at $1,828.73 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. 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 market cap of $92.72 billion, a PE ratio of 64.53, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60. The business has a 50 day moving average of $1,845.97 and a 200 day moving average of $1,909.86.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’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 completion of the transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Morgan Stanley lowered their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Finally, Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,241.00.

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.