GRIMES & Co WEALTH MANAGEMENT LLC Takes Position in MercadoLibre, Inc. $MELI

GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 308 shares of the company’s stock, valued at approximately $721,000.

A number of other large investors have also bought and sold shares of the stock. Lavaca Capital LLC grew its holdings in shares of MercadoLibre by 140,201.3% in the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. Norges Bank purchased a new stake in MercadoLibre during the 2nd quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of MercadoLibre by 304.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after acquiring an additional 192,071 shares during the period. Durable Capital Partners LP raised its stake in shares of MercadoLibre by 155.3% during the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock valued at $386,775,000 after acquiring an additional 90,026 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MercadoLibre

In other news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction that occurred on 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 completion of the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,136 shares of company stock worth $2,308,788. Company insiders own 0.25% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $2,073.57 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The company has a market cap of $105.12 billion, a price-to-earnings ratio of 50.60, a price-to-earnings-growth ratio of 1.07 and a beta of 1.42. The stock has a fifty day simple moving average of $2,054.67 and a two-hundred day simple moving average of $2,244.75. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the prior year, the company earned $7.83 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup reduced their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Barclays boosted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Morgan Stanley boosted their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Susquehanna decreased their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

MercadoLibre Company 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.