Envestnet Asset Management Inc. Grows Position in MercadoLibre, Inc. $MELI

Envestnet Asset Management Inc. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% in the third quarter, HoldingsChannel.com reports. The fund owned 63,733 shares of the company’s stock after purchasing an additional 2,210 shares during the quarter. Envestnet Asset Management Inc.’s holdings in MercadoLibre were worth $148,939,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC lifted its holdings in MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Lavaca Capital LLC lifted its stake in shares of MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after buying an additional 1,065,530 shares during the period. Schroder Investment Management Group boosted its position in MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after acquiring an additional 74,201 shares during the last quarter. WCM Investment Management LLC grew its stake in MercadoLibre by 0.4% in the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after acquiring an additional 1,833 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in MercadoLibre by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock worth $709,535,000 after acquiring an additional 9,474 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MELI shares. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. BTIG Research restated a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Wednesday. Benchmark decreased their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, UBS Group dropped their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,876.88.

Insider Buying and Selling

In related news, Director Stelleo Tolda sold 246 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

MercadoLibre Trading Down 3.2%

Shares of MELI stock opened at $1,970.15 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The firm’s 50 day moving average price is $2,074.84 and its two-hundred day moving average price is $2,206.74. The stock has a market cap of $99.89 billion, a price-to-earnings ratio of 48.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.44. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.