Strategic Financial Concepts LLC Has $309.41 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Strategic Financial Concepts LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 169,952.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,956 shares of the company's stock after purchasing an additional 181,849 shares during the period. MercadoLibre accounts for about 9.5% of Strategic Financial Concepts LLC's investment portfolio, making the stock its 2nd largest holding. Strategic Financial Concepts LLC owned 0.36% of MercadoLibre worth $309,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. Pacific Capital Wealth Advisors Inc. grew its stake in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 8 shares in the last quarter. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after buying an additional 15 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. increased its holdings in shares of MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after buying an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Citigroup decreased their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Wedbush reduced 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 report on Monday, January 6th. Finally, New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and a consensus price target of $2,244.69.

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 value of $99,249.00. Following the transaction, the director now owns 238 shares of the company's stock, valued at approximately $472,425.24. This 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 can be accessed through this link. Company insiders own 0.06% of the company's stock.

MercadoLibre Stock Down 1.1 %

Shares of NASDAQ:MELI traded down $22.96 during midday trading on Wednesday, reaching $2,075.79. 413,620 shares of the company were exchanged, compared to its average volume of 332,428. The stock has a fifty day simple moving average of $1,850.22 and a two-hundred day simple moving average of $1,950.96. The firm has a market cap of $105.24 billion, a PE ratio of 73.25, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.