Premier Path Wealth Partners LLC Sells 30 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Premier Path Wealth Partners LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 239 shares of the company’s stock after selling 30 shares during the period. Premier Path Wealth Partners LLC’s holdings in MercadoLibre were worth $407,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MELI. Jennison Associates LLC increased its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares during the period. FMR LLC increased its position in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp raised its holdings in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares during the period. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

MercadoLibre Stock Down 0.1 %

MELI stock opened at $1,836.00 on Friday. The stock’s 50 day moving average is $1,853.58 and its 200-day moving average is $1,903.18. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market capitalization of $93.09 billion, a PE ratio of 64.78, a P/E/G ratio of 0.92 and a beta of 1.60. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

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.