OneDigital Investment Advisors LLC Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

OneDigital Investment Advisors LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 19.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 572 shares of the company’s stock after acquiring an additional 94 shares during the period. OneDigital Investment Advisors LLC’s holdings in MercadoLibre were worth $1,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in MercadoLibre during the second quarter valued at approximately $2,913,000. Janus Henderson Group PLC lifted its position in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the last quarter. Finally, Capital World Investors grew its stake in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 1.9 %

NASDAQ MELI opened at $1,916.12 on Tuesday. The business’s fifty day simple moving average is $2,035.34 and its 200-day simple moving average is $1,849.25. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market cap of $97.15 billion, a PE ratio of 67.61, a P/E/G ratio of 1.27 and a beta of 1.61. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Citigroup lifted their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three investment 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 company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.