MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 210 shares of the company’s stock after selling 14 shares during the period. Confluence Investment Management LLC’s holdings in MercadoLibre were worth $357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Rhumbline Advisers boosted its holdings in MercadoLibre by 4.2% in the second quarter. Rhumbline Advisers now owns 10,723 shares of the company’s stock valued at $17,622,000 after purchasing an additional 430 shares during the last quarter. Belpointe Asset Management LLC increased its stake in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Range Financial Group LLC acquired a new stake in MercadoLibre in the second quarter valued at $230,000. Hohimer Wealth Management LLC boosted its stake in MercadoLibre by 75.2% during the 2nd quarter. Hohimer Wealth Management LLC now owns 557 shares of the company’s stock valued at $915,000 after acquiring an additional 239 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its holdings in MercadoLibre by 1.1% during the 2nd quarter. Waverton Investment Management Ltd now owns 20,599 shares of the company’s stock worth $33,865,000 after acquiring an additional 230 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MELI shares. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Cantor Fitzgerald lowered their price target on shares of 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. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,834.17 on Friday. The company has a 50-day moving average of $1,903.85 and a 200-day moving average of $1,889.65. The firm has a market cap of $92.99 billion, a price-to-earnings ratio of 64.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction 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 sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.