Itau Unibanco Holding S.A. Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Itau Unibanco Holding S.A. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 42.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,094 shares of the company’s stock after buying an additional 8,930 shares during the quarter. MercadoLibre comprises approximately 2.0% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 18th biggest holding. Itau Unibanco Holding S.A. owned 0.06% of MercadoLibre worth $61,753,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James & Associates boosted its position in MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the period. KBC Group NV lifted its position in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Caprock Group LLC grew its stake in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP grew its stake in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after acquiring an additional 28,494 shares during the last quarter. Finally, Mirabella Financial Services LLP lifted its holdings in MercadoLibre by 622.1% in the third quarter. Mirabella Financial Services LLP now owns 2,159 shares of the company’s stock valued at $4,430,000 after acquiring an additional 1,860 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.6 %

MercadoLibre stock opened at $1,952.44 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $98.99 billion, a price-to-earnings ratio of 68.89, a P/E/G ratio of 1.35 and a beta of 1.57. The firm has a 50 day simple moving average of $2,020.96 and a 200 day simple moving average of $1,869.98.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Citigroup lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group increased their price target 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 research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

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.