Caisse DE Depot ET Placement DU Quebec Acquires 1,099 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Caisse DE Depot ET Placement DU Quebec increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 83,073 shares of the company’s stock after purchasing an additional 1,099 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in MercadoLibre were worth $170,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors increased its holdings in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in shares of MercadoLibre during the 2nd quarter valued at $36,000. Quarry LP purchased a new stake in shares of MercadoLibre in the second quarter worth $43,000. Finally, Legacy Bridge LLC boosted its stake in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. BTIG Research lowered their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Down 2.9 %

NASDAQ:MELI opened at $1,985.17 on Friday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a market capitalization of $100.64 billion, a PE ratio of 70.05, a P/E/G ratio of 1.39 and a beta of 1.61. The firm’s 50-day moving average price is $2,020.96 and its 200-day moving average price is $1,867.64. 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.