MercadoLibre, Inc. $MELI Shares Purchased by Eleva Capital SAS

Eleva Capital SAS raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 105.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,581 shares of the company’s stock after purchasing an additional 1,326 shares during the period. MercadoLibre makes up about 1.6% of Eleva Capital SAS’s investment portfolio, making the stock its 2nd biggest holding. Eleva Capital SAS’s holdings in MercadoLibre were worth $6,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the third quarter worth about $35,000. Cullen Frost Bankers Inc. grew its stake in MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the period. Curio Wealth LLC increased its holdings in shares of MercadoLibre by 1,400.0% in the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of MercadoLibre during the second quarter worth about $39,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MELI. JPMorgan Chase & Co. upgraded MercadoLibre from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $2,650.00 to $2,800.00 in a report on Thursday, February 12th. Benchmark cut their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Wedbush lowered 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 research report on Tuesday, February 17th. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Wednesday, February 4th. Finally, Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note 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 company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,872.00.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction dated 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,136 shares of company stock worth $2,308,788 in the last three months. Insiders own 0.25% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,996.87 on Monday. The stock has a market capitalization of $101.24 billion, a price-to-earnings ratio of 48.73, a PEG ratio of 0.99 and a beta of 1.44. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22. The firm has a fifty day simple moving average of $2,062.15 and a 200 day simple moving average of $2,178.08. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

About MercadoLibre

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.