MercadoLibre, Inc. $MELI Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 218.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 598 shares of the company’s stock after buying an additional 410 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in MercadoLibre were worth $1,397,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lavaca Capital LLC lifted its holdings in MercadoLibre by 140,201.3% in the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after acquiring an additional 1,065,530 shares during the period. Norges Bank purchased a new position in shares of MercadoLibre during the 2nd quarter valued at approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of MercadoLibre by 304.7% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after purchasing an additional 192,071 shares in the last quarter. Flossbach Von Storch SE lifted its stake in shares of MercadoLibre by 1,669.4% in the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after purchasing an additional 171,449 shares during the period. Finally, Durable Capital Partners LP boosted its holdings in MercadoLibre by 155.3% during the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after buying an additional 90,026 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. This represents a 14.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. Morgan Stanley lifted their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. BTIG Research restated a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Thursday, December 4th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Citigroup dropped their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,099.90 on Wednesday. The stock has a 50 day moving average of $2,076.66 and a two-hundred day moving average of $2,211.92. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22. The firm has a market cap of $106.46 billion, a P/E ratio of 51.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.