MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Alterna Wealth Management Inc.

Alterna Wealth Management Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 28.3% in the third quarter, HoldingsChannel.com reports. The firm owned 99 shares of the company’s stock after selling 39 shares during the quarter. Alterna Wealth Management Inc.’s holdings in MercadoLibre were worth $203,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. O Dell Group LLC raised its stake in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the period. Finally, Strategic Blueprint LLC increased its holdings in shares of MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,063.70 on Tuesday. The business has a 50 day moving average price of $2,051.56 and a 200 day moving average price of $1,812.10. The company has a market capitalization of $104.63 billion, a P/E ratio of 74.58, a PEG ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MELI shares. Citigroup boosted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Barclays increased their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Profile

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.