Golden State Wealth Management LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Golden State Wealth Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 38 shares of the company’s stock, valued at approximately $65,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Tobam grew its position in MercadoLibre by 154.9% during the fourth quarter. Tobam now owns 232 shares of the company’s stock worth $395,000 after buying an additional 141 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in shares of MercadoLibre by 22.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 6,566 shares of the company’s stock valued at $11,165,000 after acquiring an additional 1,214 shares during the last quarter. Prairie Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 1.1% during the 4th quarter. Prairie Wealth Advisors Inc. now owns 825 shares of the company’s stock valued at $1,403,000 after acquiring an additional 9 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $313,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in MercadoLibre by 9.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,519 shares of the company’s stock valued at $7,684,000 after purchasing an additional 379 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wedbush cut their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Morgan Stanley lowered their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Citigroup decreased their price objective 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. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Price Performance

MELI stock opened at $2,042.22 on Tuesday. The stock has a market capitalization of $103.54 billion, a price-to-earnings ratio of 72.06, a PEG ratio of 1.06 and a beta of 1.62. The firm’s 50-day moving average price is $1,831.14 and its two-hundred day moving average price is $1,930.51. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73.

Insider Activity at MercadoLibre

In related 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

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.