Smith Salley Wealth Management Acquires 156 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Smith Salley Wealth Management increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,451 shares of the company’s stock after buying an additional 156 shares during the period. Smith Salley Wealth Management’s holdings in MercadoLibre were worth $2,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre during the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. lifted its holdings in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after buying an additional 10,272 shares in the last quarter. KBC Group NV boosted its position in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after buying an additional 17,677 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in shares of MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after acquiring an additional 780 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’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 sale, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Barclays lowered 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. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Wedbush cut their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,836.00 on Friday. 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, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company’s 50 day moving average price is $1,853.58 and its two-hundred day moving average price is $1,903.18. The company has a market capitalization of $93.09 billion, a P/E ratio of 64.78, a price-to-earnings-growth ratio of 0.92 and a beta of 1.60.

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.