Mirae Asset Global Investments Co. Ltd. Purchases 13,081 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mirae Asset Global Investments Co. Ltd. increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 76.5% in the 4th quarter, Holdings Channel reports. The firm owned 30,173 shares of the company’s stock after buying an additional 13,081 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MercadoLibre were worth $50,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. lifted its holdings 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 acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its stake in shares of MercadoLibre by 100.0% in 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 in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $32,000. Mather Group LLC. increased its stake in shares of MercadoLibre by 171.4% in 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 in the last quarter. Finally, Optimum Investment Advisors increased its stake in shares of MercadoLibre by 750.0% in 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 in the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 transaction, the director now 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 SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,966.41 on Wednesday. The firm has a market capitalization of $99.70 billion, a P/E ratio of 69.39, a PEG ratio of 1.02 and a beta of 1.62. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The business has a 50-day moving average of $1,835.81 and a 200-day moving average of $1,921.51. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley lowered their target price on 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. JPMorgan Chase & Co. lowered 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. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Wedbush lowered their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,244.69.

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.