Activest Wealth Management Has $54,000 Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Activest Wealth Management decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26 shares of the company’s stock after selling 7 shares during the quarter. Activest Wealth Management’s holdings in MercadoLibre were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors increased its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new position in MercadoLibre during the 2nd quarter worth approximately $36,000. Legacy Bridge LLC boosted its holdings in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares in the last quarter. Finally, Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at approximately $43,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Wedbush reiterated an “outperform” rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Bank of America boosted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Susquehanna increased their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded down $22.91 during mid-day trading on Thursday, hitting $1,908.35. The company had a trading volume of 43,091 shares, compared to its average volume of 366,867. The stock’s 50-day moving average price is $2,031.02 and its 200-day moving average price is $1,851.83. The company has a market capitalization of $96.75 billion, a price-to-earnings ratio of 68.15, a P/E/G ratio of 1.31 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

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.