Rep. Josh Gottheimer Purchases Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Posted by Adam Dyson on Dec 7th, 2024

Representative Josh Gottheimer (D-New Jersey) recently bought shares of MercadoLibre, Inc. (NASDAQ:MELI). In a filing disclosed on December 05th, the Representative disclosed that they had bought between $1,001 and $15,000 in MercadoLibre stock on November 15th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/29/2024.
Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/27/2024.
Sold $1,001 – $15,000 in shares of Netflix (NASDAQ:NFLX) on 11/27/2024.
Sold $1,001 – $15,000 in shares of Vertiv (NYSE:VRT) on 11/27/2024.
Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/26/2024.
Purchased $1,001 – $15,000 in shares of Dominion Energy (NYSE:D) on 11/26/2024.
Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/26/2024.
Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 11/25/2024.
Sold $1,001 – $15,000 in shares of ConocoPhillips (NYSE:COP) on 11/22/2024.
Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/22/2024.

MercadoLibre Stock Down 1.9 %

MELI opened at $1,947.18 on Friday. The company has a 50 day moving average of $2,009.14 and a 200 day moving average of $1,874.33. The company has a market cap of $98.72 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.57. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month 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.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Planning Capital Management Corp raised its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after buying an additional 5 shares in the last quarter. Mount Lucas Management LP raised its stake in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares in the last quarter. Belpointe Asset Management LLC raised its stake in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC raised its stake in MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MELI. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Wedbush reissued an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

Check Out Our Latest Research Report on MELI

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s 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 transaction 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 trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

MercadoLibre Company Profile

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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.