Sumitomo Mitsui Trust Group Inc. Has $400.62 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,597 shares of the company’s stock after buying an additional 3,710 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.46% of MercadoLibre worth $400,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacific Capital Wealth Advisors Inc. grew its holdings in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $32,000. Mather Group LLC. increased its position in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares in the last quarter. Finally, Optimum Investment Advisors raised its stake in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,012.80 on Friday. The firm has a market capitalization of $102.05 billion, a P/E ratio of 71.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average price is $1,831.55 and its two-hundred day moving average price is $1,924.10. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was 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 approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent analyst reports. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. Finally, Cantor Fitzgerald lowered their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2,244.69.

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.