Premier Path Wealth Partners LLC Has $407,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Premier Path Wealth Partners LLC trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239 shares of the company’s stock after selling 30 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in MercadoLibre were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC grew its stake in MercadoLibre by 3.9% in the 3rd 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. FMR LLC boosted its holdings in shares of MercadoLibre by 18.6% during the third 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 period. State Street Corp increased its stake in shares of MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the period. Wellington Management Group LLP lifted its holdings in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after purchasing an additional 11,265 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’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 sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Barclays lowered 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 report on Tuesday, November 12th. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Finally, Morgan Stanley dropped their price objective 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. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Trading Down 0.1 %

MELI opened at $1,836.00 on Friday. The company has a market cap of $93.09 billion, a P/E ratio of 64.78, a PEG ratio of 0.92 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $1,853.58 and its 200-day moving average is $1,903.18. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

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.