Nkcfo LLC Has $2.20 Million Stock Holdings in MercadoLibre, Inc. $MELI

Nkcfo LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 943 shares of the company’s stock after selling 300 shares during the quarter. Nkcfo LLC’s holdings in MercadoLibre were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MELI. Quadcap Wealth Management LLC increased its holdings in shares of MercadoLibre by 4.2% in the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after purchasing an additional 5 shares during the period. PFW Advisors LLC lifted its position in MercadoLibre by 4.8% in the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after buying an additional 5 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of MercadoLibre by 3.5% during the 3rd quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after buying an additional 5 shares during the period. Wilkinson Global Asset Management LLC grew its holdings in shares of MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock valued at $528,000 after acquiring an additional 5 shares in the last quarter. Finally, Hardy Reed LLC increased its stake in shares of MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after acquiring an additional 5 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 6.6%

Shares of MELI stock opened at $1,864.46 on Tuesday. The stock’s 50 day simple moving average is $2,060.10 and its 200 day simple moving average is $2,174.77. MercadoLibre, Inc. has a twelve month low of $1,723.90 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The company has a market capitalization of $94.53 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 0.99 and a beta of 1.44.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lifted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. BTIG Research restated a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upgraded shares of MercadoLibre from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $2,650.00 to $2,800.00 in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,872.00.

Insider Buying and Selling at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,136 shares of company stock worth $2,308,788 over the last 90 days. Insiders own 0.25% of the company’s stock.

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.