Smith Salley Wealth Management Buys 156 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Smith Salley Wealth Management increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,451 shares of the company's stock after purchasing an additional 156 shares during the quarter. Smith Salley Wealth Management's holdings in MercadoLibre were worth $2,467,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MELI. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Quarry LP bought a new stake in MercadoLibre in the 2nd quarter valued at approximately $43,000. Legacy Bridge LLC boosted its position in MercadoLibre by 53.3% during the 3rd 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. GAMMA Investing LLC grew its stake in shares of MercadoLibre by 123.1% during the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company's stock worth $49,000 after acquiring an additional 16 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded down $1.18 during mid-day trading on Friday, reaching $1,836.00. 245,067 shares of the company were exchanged, compared to its average volume of 364,653. The stock has a market capitalization of $93.08 billion, a P/E ratio of 64.78, a P/E/G ratio of 0.92 and a beta of 1.60. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company's 50-day simple moving average is $1,853.58 and its 200-day simple moving average is $1,905.33. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 target price on the stock. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price target for the company. Finally, Wedbush decreased 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. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,247.67.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.