Perigon Wealth Management LLC Acquires 7 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Perigon Wealth Management LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 957 shares of the company’s stock after purchasing an additional 7 shares during the quarter. Perigon Wealth Management LLC’s holdings in MercadoLibre were worth $1,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MELI. Pacific Capital Wealth Advisors Inc. boosted its holdings in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares in 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 worth $35,000 after acquiring an additional 15 shares in the last quarter. Grove Bank & Trust boosted its holdings in MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Quarry LP bought a new position in MercadoLibre in the second quarter worth approximately $43,000. Finally, 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. Institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,889.76 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business has a fifty day simple moving average of $1,842.47 and a two-hundred day simple moving average of $1,915.10. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a market capitalization of $95.81 billion, a P/E ratio of 66.68, a P/E/G ratio of 0.96 and a beta of 1.60.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Cantor Fitzgerald cut their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. BTIG Research lowered their price objective 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. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,241.00.

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.