Axxcess Wealth Management LLC Sells 313 Shares of MercadoLibre, Inc. $MELI

Axxcess Wealth Management LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 68.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141 shares of the company’s stock after selling 313 shares during the period. Axxcess Wealth Management LLC’s holdings in MercadoLibre were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC grew its position in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Lavaca Capital LLC increased its position in MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares during the last quarter. Schroder Investment Management Group raised its stake in MercadoLibre by 16.6% in the 2nd quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after acquiring an additional 74,201 shares during the period. WCM Investment Management LLC raised its position in shares of MercadoLibre by 0.4% in the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after purchasing an additional 1,833 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of MercadoLibre by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock worth $709,535,000 after purchasing an additional 9,474 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were 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 valued at $2,308,788 over the last quarter. Company insiders own 0.25% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,996.87 on Monday. The stock has a fifty day simple moving average of $2,062.15 and a two-hundred day simple moving average of $2,178.08. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The firm has a market cap of $101.24 billion, a price-to-earnings ratio of 48.73, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

Analyst Ratings Changes

Several analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. raised MercadoLibre from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $2,650.00 to $2,800.00 in a report on Thursday, February 12th. Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Wedbush dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. UBS Group decreased their price target on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,872.00.

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.