Wealthspire Advisors LLC Sells 27 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Wealthspire Advisors LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351 shares of the company’s stock after selling 27 shares during the period. Wealthspire Advisors LLC’s holdings in MercadoLibre were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Sigma Planning Corp boosted its holdings in shares of MercadoLibre by 17.6% in the 4th quarter. Sigma Planning Corp now owns 521 shares of the company’s stock valued at $886,000 after buying an additional 78 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in MercadoLibre by 5.0% in the fourth quarter. Allianz Asset Management GmbH now owns 70,148 shares of the company’s stock valued at $119,282,000 after acquiring an additional 3,354 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in MercadoLibre by 10.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 344 shares of the company’s stock worth $585,000 after purchasing an additional 33 shares during the last quarter. Hardy Reed LLC purchased a new position in MercadoLibre in the fourth quarter worth $213,000. Finally, Handelsbanken Fonder AB increased its position in shares of MercadoLibre by 0.7% during the fourth quarter. Handelsbanken Fonder AB now owns 22,349 shares of the company’s stock worth $38,003,000 after purchasing an additional 158 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MELI. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,385.94.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $2,168.60 on Wednesday. The business’s 50-day moving average is $1,883.02 and its two-hundred day moving average is $1,962.50. The company has a market capitalization of $109.94 billion, a P/E ratio of 57.52, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.