Leo Wealth LLC Has $1.06 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Leo Wealth LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 53.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 623 shares of the company’s stock after purchasing an additional 217 shares during the period. Leo Wealth LLC’s holdings in MercadoLibre were worth $1,060,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the last quarter. FMR LLC raised its holdings in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Wellington Management Group LLP lifted its position in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Swedbank AB boosted its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. Citigroup reduced their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Wedbush lowered their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2,244.69.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

MercadoLibre Trading Down 0.8 %

MELI stock opened at $1,996.65 on Friday. The company has a market capitalization of $101.23 billion, a PE ratio of 70.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. 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 one year low of $1,324.99 and a one year high of $2,161.73. The company’s 50 day moving average price is $1,830.91 and its two-hundred day moving average price is $1,924.71.

About MercadoLibre

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.