Canvas Wealth Advisors LLC Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Canvas Wealth Advisors LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 35.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,218 shares of the company’s stock after purchasing an additional 322 shares during the period. Canvas Wealth Advisors LLC’s holdings in MercadoLibre were worth $2,071,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MELI. Pacific Capital Wealth Advisors Inc. increased its holdings in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its holdings in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth $32,000. Mather Group LLC. raised its holdings in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the last quarter. Finally, Optimum Investment Advisors lifted its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MELI shares. 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 research report on Thursday, November 7th. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Trading Down 0.8 %

MELI stock opened at $1,996.65 on Monday. The business’s 50-day moving average is $1,831.14 and its 200 day moving average is $1,928.50. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market cap of $101.22 billion, a price-to-earnings ratio of 70.45, a PEG ratio of 1.06 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $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 at this link. Corporate insiders own 0.06% of the company’s stock.

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.