Envestnet Asset Management Inc. Grows Holdings in MercadoLibre, Inc. $MELI

Envestnet Asset Management Inc. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 63,733 shares of the company’s stock after buying an additional 2,210 shares during the period. Envestnet Asset Management Inc. owned 0.13% of MercadoLibre worth $148,939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of MercadoLibre in the third quarter valued at approximately $35,000. Cullen Frost Bankers Inc. raised its stake in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the last quarter. Curio Wealth LLC lifted its holdings in shares of MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after purchasing an additional 14 shares during the period. Finally, Stone House Investment Management LLC purchased a new position in MercadoLibre in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares of the company’s stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,136 shares of company stock valued at $2,308,788. Insiders own 0.25% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,970.15 on Friday. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The stock has a market cap of $99.89 billion, a P/E ratio of 48.08, a P/E/G ratio of 1.01 and a beta of 1.44. The stock’s 50 day simple moving average is $2,074.84 and its 200 day simple moving average is $2,206.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MELI shares. BTIG Research restated a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Wednesday. UBS Group cut their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a report on Monday, November 24th. Benchmark lowered their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.