Equitable Trust Co. Trims Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Equitable Trust Co. decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.4% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Aubrey Capital Management Ltd boosted its position in shares of MercadoLibre by 11.6% in the 4th quarter. Aubrey Capital Management Ltd now owns 15,393 shares of the company’s stock worth $26,176,000 after purchasing an additional 1,605 shares in the last quarter. Savant Capital LLC lifted its position in MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock valued at $524,000 after acquiring an additional 7 shares in the last quarter. Canvas Wealth Advisors LLC lifted its position in MercadoLibre by 35.9% in the 4th quarter. Canvas Wealth Advisors LLC now owns 1,218 shares of the company’s stock valued at $2,071,000 after acquiring an additional 322 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in MercadoLibre by 130.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock valued at $131,747,000 after acquiring an additional 43,836 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in MercadoLibre during the 4th quarter valued at $2,619,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MELI shares. Cantor Fitzgerald decreased their target price 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. JPMorgan Chase & Co. decreased their target price 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. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Wedbush decreased their target price 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 assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and a consensus price target of $2,244.69.

Insider Activity

In related 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 value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

MercadoLibre Trading Up 2.3 %

Shares of MercadoLibre stock opened at $2,042.22 on Tuesday. The firm has a market cap of $103.54 billion, a price-to-earnings ratio of 72.06, a PEG ratio of 1.06 and a beta of 1.62. The business has a 50-day moving average price of $1,831.14 and a 200-day moving average price of $1,930.51. 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 twelve month low of $1,324.99 and a twelve month high of $2,161.73.

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.