Banque Pictet & Cie SA Makes New $10 Million Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Banque Pictet & Cie SA bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,882 shares of the company's stock, valued at approximately $10,002,000.

Other institutional investors have also added to or reduced their stakes in the company. Planning Capital Management Corp lifted its holdings in shares of 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 acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP lifted its stake in 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 purchasing an additional 5 shares during the last quarter. Strategic Blueprint LLC boosted its position in MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company's stock valued at $1,350,000 after buying an additional 6 shares during the period. Nvwm LLC grew its stake 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 buying an additional 6 shares during the last quarter. Finally, NBC Securities Inc. grew its stake 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 buying an additional 7 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MELI shares. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Morgan Stanley dropped their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Barclays lowered their price target on shares of 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, New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $2,244.69.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 238 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

MercadoLibre Stock Down 0.5 %

MELI stock traded down $11.24 during midday trading on Tuesday, hitting $2,098.75. The stock had a trading volume of 364,619 shares, compared to its average volume of 329,790. The business has a 50-day moving average of $1,845.83 and a two-hundred day moving average of $1,948.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $106.40 billion, a price-to-earnings ratio of 74.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

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.