Stonegate Investment Group LLC Has $663,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Stonegate Investment Group LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 76.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390 shares of the company’s stock after selling 1,262 shares during the quarter. Stonegate Investment Group LLC’s holdings in MercadoLibre were worth $663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacific Capital Wealth Advisors Inc. lifted its position in 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 acquiring an additional 11 shares in the last quarter. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the last quarter. Grove Bank & Trust grew its holdings in MercadoLibre by 120.0% during the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. Quarry LP bought a new stake in MercadoLibre during the second quarter worth $43,000. Finally, Legacy Bridge LLC raised its position in MercadoLibre by 53.3% in the 3rd 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 last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was 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 currently owned by insiders.

MercadoLibre Trading Up 2.7 %

Shares of MercadoLibre stock opened at $1,895.53 on Wednesday. The company’s 50-day moving average price is $1,842.89 and its 200-day moving average price is $1,914.15. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a market cap of $96.10 billion, a price-to-earnings ratio of 66.89, a PEG ratio of 0.96 and a beta of 1.60.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MELI shares. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Cantor Fitzgerald cut their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Citigroup cut their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered 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 report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,241.00.

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.