MercadoLibre, Inc. (NASDAQ:MELI) Holdings Lowered by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 28.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,979 shares of the company’s stock after selling 800 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in MercadoLibre were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors grew its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter worth approximately $36,000. Legacy Bridge LLC grew its stake in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of MercadoLibre in the 2nd quarter worth approximately $43,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $2,110.00 on Wednesday. The company’s 50 day moving average price is $2,025.78 and its 200 day moving average price is $1,862.98. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a market capitalization of $106.98 billion, a PE ratio of 74.45, a PEG ratio of 1.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Susquehanna lifted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Wedbush reissued an “outperform” rating and issued a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

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.