MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by INCA Investments LLC

INCA Investments LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 52.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,559 shares of the company’s stock after buying an additional 5,018 shares during the quarter. MercadoLibre makes up 10.2% of INCA Investments LLC’s portfolio, making the stock its 4th largest position. INCA Investments LLC’s holdings in MercadoLibre were worth $24,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. increased its stake in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. boosted its holdings in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Optimum Investment Advisors boosted its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. boosted its holdings in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,066.15 on Friday. The stock has a market capitalization of $104.75 billion, a price-to-earnings ratio of 72.91, a PEG ratio of 1.06 and a beta of 1.62. The business has a 50-day moving average of $1,835.63 and a 200-day moving average of $1,936.72. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MELI. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock 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 research note on Thursday, November 7th. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $2,244.69.

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.