Perigon Wealth Management LLC Purchases 7 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Perigon Wealth Management LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 957 shares of the company’s stock after purchasing an additional 7 shares during the quarter. Perigon Wealth Management LLC’s holdings in MercadoLibre were worth $1,758,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Sterling Investment Counsel LLC lifted its position in shares of MercadoLibre by 18.5% during the 4th quarter. Sterling Investment Counsel LLC now owns 243 shares of the company’s stock valued at $413,000 after acquiring an additional 38 shares during the period. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Integrity Wealth Solutions LLC lifted its position in shares of MercadoLibre by 130.8% during the 4th quarter. Integrity Wealth Solutions LLC now owns 464 shares of the company’s stock valued at $789,000 after acquiring an additional 263 shares during the period. Slow Capital Inc. lifted its position in shares of MercadoLibre by 2.1% during the 4th quarter. Slow Capital Inc. now owns 12,009 shares of the company’s stock valued at $20,420,000 after acquiring an additional 242 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $213,000. 87.62% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated 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 in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Trading Down 0.3 %

Shares of MELI stock opened at $1,889.76 on Thursday. The stock has a market cap of $95.81 billion, a price-to-earnings ratio of 66.68, a PEG ratio of 0.96 and a beta of 1.60. The stock has a 50-day moving average of $1,842.47 and a 200-day moving average of $1,915.10. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MELI shares. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Morgan Stanley lowered their price target 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 price target 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. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,241.00.

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.