MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 165,831 shares of the company’s stock after selling 6,420 shares during the period. MercadoLibre comprises approximately 13.3% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its biggest holding. Hardman Johnston Global Advisors LLC’s holdings in MercadoLibre were worth $340,279,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MELI. Capital World Investors lifted its position in shares of MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares in the last quarter. GQG Partners LLC lifted its stake in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 43.2% during the first 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 last quarter. Janus Henderson Group PLC increased its stake in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after purchasing an additional 11,265 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MELI shares. Morgan Stanley upped their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Barclays raised their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Performance

MELI stock opened at $2,090.01 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a 50 day moving average price of $2,052.64 and a 200 day moving average price of $1,817.26. The stock has a market capitalization of $105.96 billion, a PE ratio of 75.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

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.