Focus Financial Network Inc. Acquires 8 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Focus Financial Network Inc. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280 shares of the company’s stock after acquiring an additional 8 shares during the period. Focus Financial Network Inc.’s holdings in MercadoLibre were worth $476,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in MercadoLibre in the fourth quarter worth about $32,000. Mather Group LLC. lifted its stake in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the last quarter. Finally, Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.5 %

Shares of NASDAQ:MELI opened at $2,066.15 on Friday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The business’s fifty day simple moving average is $1,835.63 and its 200-day simple moving average is $1,936.72. The company has a market capitalization of $104.75 billion, a PE ratio of 72.91, a P/E/G 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.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Morgan Stanley decreased their price objective on shares of 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. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and a consensus target price of $2,244.69.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The stock was 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 in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.