Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $270,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159 shares of the company’s stock after selling 6 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in MercadoLibre were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MELI. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Grove Bank & Trust lifted its position in shares of MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Legacy Bridge LLC increased its stake in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. Quarry LP acquired a new position in MercadoLibre in the 2nd quarter valued at approximately $43,000. Finally, NBC Securities Inc. lifted its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,947.32 on Friday. The stock has a market capitalization of $98.73 billion, a PE ratio of 68.71, a P/E/G ratio of 0.96 and a beta of 1.60. The stock has a 50-day simple moving average of $1,841.64 and a 200 day simple moving average of $1,914.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MELI shares. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Wedbush cut their price target on 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. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a research note on Thursday. Finally, Barclays cut 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. 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’s stock. According to data from MarketBeat.com, the stock 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 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 transaction of $99,249.00. Following the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was 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 hyperlink. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre 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.