Smith Salley Wealth Management Has $2.47 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Smith Salley Wealth Management lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.0% in the fourth quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of MercadoLibre by 39.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock worth $386,000 after purchasing an additional 67 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of MercadoLibre by 265.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,046 shares of the company’s stock valued at $6,649,000 after buying an additional 2,939 shares in the last quarter. Argent Trust Co acquired a new position in MercadoLibre during the second quarter worth $247,000. Vanguard Personalized Indexing Management LLC raised its position in MercadoLibre by 6.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,788 shares of the company’s stock worth $2,871,000 after acquiring an additional 103 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in MercadoLibre by 8.6% in the second quarter. XTX Topco Ltd now owns 492 shares of the company’s stock valued at $809,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MELI shares. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley cut their price target on 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 objective on the stock. Three 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Stock Down 0.1 %

NASDAQ MELI opened at $1,836.00 on Friday. 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 company has a market cap of $93.09 billion, a price-to-earnings ratio of 64.78, a PEG ratio of 0.92 and a beta of 1.60. The company has a 50 day moving average of $1,853.58 and a 200-day moving average of $1,903.18. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

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.