Blueshift Asset Management LLC Has $1.01 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Blueshift Asset Management LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 153.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 494 shares of the company’s stock after acquiring an additional 299 shares during the period. Blueshift Asset Management LLC’s holdings in MercadoLibre were worth $1,014,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter valued at $36,000. Legacy Bridge LLC raised its stake in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after buying an additional 8 shares during the period. Finally, Quarry LP bought a new position in MercadoLibre during the second quarter worth about $43,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MELI shares. Wedbush restated an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Price Performance

Shares of MELI opened at $2,110.00 on Wednesday. The company’s 50-day moving average is $2,025.78 and its 200-day moving average is $1,862.98. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm 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. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.