Charles Schwab Investment Management Inc. Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Charles Schwab Investment Management Inc. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 33.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,215 shares of the company’s stock after selling 1,615 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MercadoLibre were worth $6,597,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of MercadoLibre by 4.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,582 shares of the company’s stock worth $4,243,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of MercadoLibre by 2.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,594 shares of the company’s stock valued at $4,263,000 after purchasing an additional 60 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of MercadoLibre by 0.9% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock worth $1,294,000 after purchasing an additional 7 shares in the last quarter. Swedbank AB grew its stake in shares of MercadoLibre by 4.6% in the 2nd quarter. Swedbank AB now owns 20,787 shares of the company’s stock worth $34,161,000 after buying an additional 921 shares during the last quarter. Finally, Fiduciary Financial Group LLC bought a new position in MercadoLibre during the 2nd quarter valued at approximately $356,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MELI shares. Citigroup dropped their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Cantor Fitzgerald dropped their target price on shares of 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. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,897.87 on Thursday. The stock has a market cap of $96.22 billion, a PE ratio of 66.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm has a fifty day moving average price of $1,998.90 and a 200-day moving average price of $1,879.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.