Nordea Investment Management AB Buys 43,215 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nordea Investment Management AB grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 37.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 157,688 shares of the company’s stock after acquiring an additional 43,215 shares during the quarter. Nordea Investment Management AB’s holdings in MercadoLibre were worth $271,897,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MELI. Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares in the last quarter. FMR LLC grew its holdings in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp increased its stake in MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of MercadoLibre by 3.6% during the 2nd 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 in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MELI. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. 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. Citigroup dropped their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Bank of America increased 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. Finally, Cantor Fitzgerald cut their price objective 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. Three research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,267.67.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Stock Up 3.9 %

MercadoLibre stock opened at $1,834.17 on Monday. The firm has a 50 day simple moving average of $1,899.59 and a 200 day simple moving average of $1,896.04. 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 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a market capitalization of $92.99 billion, a price-to-earnings ratio of 64.72, a P/E/G ratio of 1.24 and a beta of 1.60.

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.