MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 35.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,151 shares of the company’s stock after acquiring an additional 558 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in MercadoLibre were worth $3,658,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS raised its holdings in shares of MercadoLibre by 7.0% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 13,586 shares of the company’s stock valued at $23,102,000 after buying an additional 886 shares during the period. D.A. Davidson & CO. grew its position in MercadoLibre by 1.6% in the 4th quarter. D.A. Davidson & CO. now owns 2,716 shares of the company’s stock valued at $4,618,000 after acquiring an additional 42 shares in the last quarter. Truist Financial Corp increased its stake in MercadoLibre by 0.8% during the fourth quarter. Truist Financial Corp now owns 5,997 shares of the company’s stock worth $10,198,000 after purchasing an additional 50 shares during the period. CIBC Asset Management Inc lifted its position in shares of MercadoLibre by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,075 shares of the company’s stock worth $15,431,000 after purchasing an additional 408 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of MercadoLibre by 13.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,922 shares of the company’s stock valued at $4,969,000 after purchasing an additional 336 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $2,110.47 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock has a 50 day moving average price of $1,858.57 and a 200 day moving average price of $1,952.94. The company has a market capitalization of $107.00 billion, a price-to-earnings ratio of 74.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. Research analysts predict that MercadoLibre, Inc. will post 32.98 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Barclays cut their target price on shares of 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. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Morgan Stanley decreased their target price 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. 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. Finally, BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2,244.69.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

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.