Caisse DE Depot ET Placement DU Quebec Acquires 1,099 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Caisse DE Depot ET Placement DU Quebec raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,073 shares of the company’s stock after purchasing an additional 1,099 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.16% of MercadoLibre worth $170,462,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Aragon Global Management LP grew its stake in MercadoLibre by 48.1% in the 3rd quarter. Aragon Global Management LP now owns 3,651 shares of the company’s stock valued at $7,492,000 after buying an additional 1,185 shares during the last quarter. Circle Wealth Management LLC grew its stake in shares of MercadoLibre by 109.3% in the third quarter. Circle Wealth Management LLC now owns 722 shares of the company’s stock valued at $1,482,000 after acquiring an additional 377 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in MercadoLibre during the third quarter worth approximately $224,000. Skye Global Management LP increased its stake in MercadoLibre by 168.3% during the 3rd quarter. Skye Global Management LP now owns 3,380 shares of the company’s stock worth $6,936,000 after acquiring an additional 2,120 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in MercadoLibre by 15.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,310 shares of the company’s stock valued at $4,740,000 after acquiring an additional 308 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent analyst reports. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley decreased their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,985.17 on Friday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The firm has a 50-day moving average of $2,020.96 and a 200-day moving average of $1,867.64. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $100.64 billion, a P/E ratio of 70.05, a P/E/G ratio of 1.39 and a beta of 1.61.

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.