Equitable Trust Co. Reduces Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Equitable Trust Co. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362 shares of the company’s stock after selling 624 shares during the period. Equitable Trust Co.’s holdings in MercadoLibre were worth $2,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Pacific Capital Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the period. 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 period. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. boosted its position in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,042.22 on Tuesday. The business’s fifty day simple moving average is $1,831.14 and its 200-day simple moving average is $1,930.51. The company has a market cap of $103.54 billion, a PE ratio of 72.06, a PEG ratio of 1.06 and a beta of 1.62. 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.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

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.