MercadoLibre, Inc. (NASDAQ:MELI) is Cabot Wealth Management Inc.’s 9th Largest Position

Cabot Wealth Management Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,895 shares of the company’s stock after purchasing an additional 109 shares during the quarter. MercadoLibre accounts for approximately 2.4% of Cabot Wealth Management Inc.’s portfolio, making the stock its 9th largest holding. Cabot Wealth Management Inc.’s holdings in MercadoLibre were worth $18,526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MELI. Swedbank AB increased its holdings in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Signaturefd LLC lifted its stake in shares of MercadoLibre by 7.0% during the third quarter. Signaturefd LLC now owns 260 shares of the company’s stock worth $534,000 after purchasing an additional 17 shares in the last quarter. Greenleaf Trust purchased a new stake in shares of MercadoLibre in the third quarter worth about $271,000. Dakota Wealth Management grew its stake in shares of MercadoLibre by 156.8% in the third quarter. Dakota Wealth Management now owns 2,545 shares of the company’s stock valued at $5,222,000 after buying an additional 1,554 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of MercadoLibre by 30.4% during the 3rd quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock valued at $334,000 after buying an additional 38 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

MercadoLibre Stock Performance

Shares of MELI opened at $2,260.00 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The business’s fifty day moving average price is $1,867.29 and its 200 day moving average price is $1,957.32. The stock has a market capitalization of $114.58 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MELI shares. Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. BTIG Research decreased their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Susquehanna raised their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday. Two investment 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. According to MarketBeat, MercadoLibre currently has an average rating of “Buy” and a consensus price target of $2,364.06.

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.