Allspring Global Investments Holdings LLC Sells 34,018 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Allspring Global Investments Holdings LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.7% during the fourth quarter, Holdings Channel reports. The fund owned 130,645 shares of the company’s stock after selling 34,018 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MercadoLibre were worth $230,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. grew its holdings in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 8 shares in the last quarter. Optimum Investment Advisors grew its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Heck Capital Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. increased its holdings in shares of MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.3 %

Shares of MELI stock opened at $2,035.18 on Wednesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock has a market cap of $103.18 billion, a price-to-earnings ratio of 71.81, a PEG ratio of 1.06 and a beta of 1.62. The firm’s 50-day moving average is $1,832.93 and its 200-day moving average is $1,933.45. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MELI shares. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Citigroup cut 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 report on Tuesday, November 26th. Finally, Wedbush lowered their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,244.69.

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.