MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 26.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,103 shares of the company’s stock after acquiring an additional 231 shares during the quarter. Traynor Capital Management Inc.’s holdings in MercadoLibre were worth $1,876,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. FMR LLC increased its holdings in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares during the period. Swedbank AB boosted its stake in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. Barclays reduced their price objective 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. Citigroup lowered their price objective 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. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday. Wedbush dropped their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,241.00.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s 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 sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,818.49 on Thursday. 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, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a market capitalization of $92.20 billion, a P/E ratio of 64.17, a P/E/G ratio of 0.97 and a beta of 1.60. The business’s 50-day simple moving average is $1,848.22 and its 200-day simple moving average is $1,910.50.

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.