MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Decreased by Prospera Financial Services Inc

Prospera Financial Services Inc cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 54.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 187 shares of the company’s stock after selling 224 shares during the period. Prospera Financial Services Inc’s holdings in MercadoLibre were worth $384,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Knuff & Co LLC lifted its stake in MercadoLibre by 1.8% during the third quarter. Knuff & Co LLC now owns 4,764 shares of the company’s stock valued at $9,776,000 after buying an additional 85 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of MercadoLibre by 5.8% during the third quarter. Meeder Advisory Services Inc. now owns 706 shares of the company’s stock valued at $1,449,000 after acquiring an additional 39 shares during the period. Semus Wealth Partners LLC lifted its position in shares of MercadoLibre by 20.2% in the 3rd quarter. Semus Wealth Partners LLC now owns 862 shares of the company’s stock valued at $1,769,000 after acquiring an additional 145 shares in the last quarter. CAP Partners LLC boosted its stake in MercadoLibre by 4.5% in the 3rd quarter. CAP Partners LLC now owns 324 shares of the company’s stock worth $665,000 after purchasing an additional 14 shares during the period. Finally, J. W. Coons Advisors LLC purchased a new position in MercadoLibre during the 3rd quarter worth approximately $205,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. BTIG Research lowered their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on shares of 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. Finally, Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Performance

MELI opened at $2,005.00 on Monday. 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 company has a market cap of $101.65 billion, a PE ratio of 70.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The stock has a 50-day moving average of $2,025.17 and a 200-day moving average of $1,857.20. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week 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.