Oppenheimer Asset Management Inc. Sells 420 Shares of MercadoLibre, Inc. $MELI

Oppenheimer Asset Management Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,719 shares of the company’s stock after selling 420 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in MercadoLibre were worth $18,039,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Highview Capital Management LLC DE bought a new stake in MercadoLibre in the 2nd quarter valued at approximately $559,000. Resona Asset Management Co. Ltd. grew its position in shares of MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares during the period. Jennison Associates LLC grew its holdings in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares during the period. Achmea Investment Management B.V. boosted its stake in shares of MercadoLibre by 10.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock worth $13,921,000 after acquiring an additional 525 shares during the period. Finally, Barlow Wealth Partners Inc. boosted its position in MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,136 shares of company stock worth $2,308,788 in the last quarter. Company insiders own 0.25% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $2,035.59 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $2,074.27 and a 200-day moving average price of $2,201.67. The firm has a market cap of $103.20 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.44.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MELI shares. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Benchmark cut their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Susquehanna cut their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Barclays raised their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,876.88.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.