Harbour Capital Advisors LLC Sells 13 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Harbour Capital Advisors LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,290 shares of the company’s stock after selling 13 shares during the quarter. Harbour Capital Advisors LLC’s holdings in MercadoLibre were worth $2,366,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares in the last quarter. FMR LLC lifted its position in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Swedbank AB increased its position in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MELI shares. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Cantor Fitzgerald dropped their price target on shares of 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. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. BTIG Research lowered their price objective on shares of 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. Finally, Barclays cut their target price on shares of 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. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,247.67.

MercadoLibre Price Performance

Shares of MELI traded down $22.82 during trading hours on Monday, hitting $1,735.95. 154,765 shares of the company were exchanged, compared to its average volume of 354,404. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. 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 market cap of $88.01 billion, a price-to-earnings ratio of 61.25, a P/E/G ratio of 1.24 and a beta of 1.60. The firm’s fifty day moving average is $1,871.83 and its 200 day moving average is $1,901.10.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value 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 trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

MercadoLibre Company 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.