Activest Wealth Management Sells 7 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Activest Wealth Management lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26 shares of the company’s stock after selling 7 shares during the quarter. Activest Wealth Management’s holdings in MercadoLibre were worth $54,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC increased its position in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $2,913,000. Janus Henderson Group PLC boosted its position in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Finally, Capital World Investors increased its stake in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Citigroup lifted their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research lowered their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Morgan Stanley cut their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Wedbush reiterated an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Trading Down 1.2 %

MercadoLibre stock traded down $22.91 during mid-day trading on Thursday, hitting $1,908.35. 43,091 shares of the stock were exchanged, compared to its average volume of 366,867. The firm’s fifty day simple moving average is $2,031.02 and its two-hundred day simple moving average is $1,851.83. 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 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a market capitalization of $96.75 billion, a price-to-earnings ratio of 68.15, a PEG ratio of 1.31 and a beta of 1.61.

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.