MercadoLibre, Inc. (NASDAQ:MELI) Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,645 shares of the company’s stock after selling 34,018 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.26% of MercadoLibre worth $230,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in 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 buying an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares during the period. FMR LLC grew its holdings in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its position in 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 buying an additional 120,922 shares during the period. Finally, Swedbank AB grew its stake in MercadoLibre by 352.8% during the 3rd 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 in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MELI. BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Cantor Fitzgerald lowered their target price on 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. Citigroup cut 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, November 26th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus target price of $2,244.69.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,035.18 on Wednesday. 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 $103.18 billion, a PE ratio of 71.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The firm has a fifty day moving average price of $1,832.93 and a two-hundred day moving average price of $1,933.45. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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.