Rep. Josh Gottheimer Purchases Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of MercadoLibre, Inc. NASDAQ: MELI. In a filing disclosed on December 05th, the Representative disclosed that they had bought between $1,001 and $15,000 in MercadoLibre stock on November 15th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Regeneron Pharmaceuticals NASDAQ: REGN on 11/29/2024.
• Purchased $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 11/27/2024.
• Sold $1,001 - $15,000 in shares of Netflix NASDAQ: NFLX on 11/27/2024.
• Sold $1,001 - $15,000 in shares of Vertiv NYSE: VRT on 11/27/2024.
• Purchased $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 11/26/2024.
• Purchased $1,001 - $15,000 in shares of Dominion Energy NYSE: D on 11/26/2024.
• Purchased $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 11/26/2024.
• Sold $1,001 - $15,000 in shares of Eaton NYSE: ETN on 11/25/2024.
• Sold $1,001 - $15,000 in shares of ConocoPhillips NYSE: COP on 11/22/2024.
• Purchased $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 11/22/2024.

MercadoLibre Stock Down 1.9 %

Shares of MELI stock traded down $37.77 on Friday, hitting $1,947.18. The company's stock had a trading volume of 310,961 shares, compared to its average volume of 605,885. 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 fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The stock has a market capitalization of $98.72 billion, a price-to-earnings ratio of 68.71, a P/E/G ratio of 1.35 and a beta of 1.57. The firm's fifty day moving average price is $2,006.79 and its 200-day moving average price is $1,876.16.

Hedge Funds Weigh In On MercadoLibre

A number of large investors have recently added to or reduced their stakes in the company. Comerica Bank raised its position in MercadoLibre by 14.4% in the 1st quarter. Comerica Bank now owns 2,068 shares of the company's stock valued at $3,127,000 after buying an additional 260 shares during the last quarter. Mather Group LLC. lifted its position in shares of MercadoLibre by 800.0% in the second quarter. Mather Group LLC. now owns 63 shares of the company's stock worth $95,000 after purchasing an additional 56 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in MercadoLibre during the second quarter worth $240,000. CWM LLC grew its position in MercadoLibre by 13.3% in the second quarter. CWM LLC now owns 854 shares of the company's stock valued at $1,403,000 after purchasing an additional 100 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its position in MercadoLibre by 4.7% during the 2nd quarter. Simplicity Wealth LLC now owns 1,044 shares of the company's stock worth $1,716,000 after buying an additional 47 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company's 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 owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Barclays cut their target price on 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. Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley cut their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,267.67.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.