Bank Pictet & Cie Europe AG Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bank Pictet & Cie Europe AG bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 330 shares of the company’s stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Planning Capital Management Corp increased its stake in MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP boosted its holdings in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares during the period. Strategic Blueprint LLC increased its position in shares of MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares in the last quarter. Nvwm LLC raised its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after acquiring an additional 6 shares during the period. Finally, NBC Securities Inc. raised its holdings in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. 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 research report on Tuesday, November 12th. Cantor Fitzgerald lowered 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. Citigroup reduced 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. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $2,244.69.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

MercadoLibre Stock Up 2.1 %

Shares of MercadoLibre stock opened at $2,109.99 on Friday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average price of $1,837.26 and a two-hundred day moving average price of $1,937.61. The stock has a market capitalization of $106.98 billion, a P/E ratio of 74.45, a PEG ratio of 1.06 and a beta of 1.62.

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.