Deepwater Asset Management LLC Has $15.15 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Deepwater Asset Management LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 30.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,907 shares of the company's stock after buying an additional 2,064 shares during the quarter. MercadoLibre comprises 4.9% of Deepwater Asset Management LLC's portfolio, making the stock its 12th biggest holding. Deepwater Asset Management LLC's holdings in MercadoLibre were worth $15,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after buying an additional 15 shares in the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at $32,000. Grove Bank & Trust increased its stake in shares of MercadoLibre by 120.0% in the 4th quarter. Grove Bank & Trust now owns 22 shares of the company's stock valued at $37,000 after buying an additional 12 shares during the period. Finally, Legacy Bridge LLC raised its position in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after acquiring an additional 8 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 1.3 %

Shares of NASDAQ:MELI opened at $1,922.19 on Monday. The firm has a market cap of $97.46 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 1.02 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company's fifty day simple moving average is $1,839.63 and its 200 day simple moving average is $1,917.75. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insider Buying and Selling 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 value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at $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 available at the SEC website. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Wedbush dropped 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. Barclays reduced 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 note on Tuesday, November 12th. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Finally, BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Two equities research 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. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Buy" and an average price target of $2,244.69.

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.

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