Heirloom Wealth Management Has $9.60 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Heirloom Wealth Management raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 65.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,644 shares of the company’s stock after acquiring an additional 2,237 shares during the quarter. MercadoLibre comprises approximately 2.9% of Heirloom Wealth Management’s holdings, making the stock its 13th largest position. Heirloom Wealth Management’s holdings in MercadoLibre were worth $9,597,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MELI. Dimensional Fund Advisors LP increased its position in MercadoLibre by 39.9% during the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock worth $386,000 after buying an additional 67 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of MercadoLibre by 26.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $47,978,000 after acquiring an additional 6,153 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of MercadoLibre by 3.0% during the 2nd quarter. Mackenzie Financial Corp now owns 1,727 shares of the company’s stock valued at $2,838,000 after acquiring an additional 51 shares during the last quarter. Algert Global LLC raised its stake in shares of MercadoLibre by 30.0% in the 2nd quarter. Algert Global LLC now owns 390 shares of the company’s stock valued at $641,000 after acquiring an additional 90 shares in the last quarter. Finally, Creative Planning lifted its holdings in MercadoLibre by 44.6% in the 2nd quarter. Creative Planning now owns 6,027 shares of the company’s stock worth $9,904,000 after purchasing an additional 1,859 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. BTIG Research decreased their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,241.00.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,843.45 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a 50-day moving average of $1,844.29 and a 200-day moving average of $1,913.18. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a market capitalization of $93.46 billion, a price-to-earnings ratio of 65.05, a PEG ratio of 0.96 and a beta of 1.60.

MercadoLibre Company 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.