CIBC Asset Management Inc Purchases 408 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

CIBC Asset Management Inc boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,075 shares of the company’s stock after purchasing an additional 408 shares during the quarter. CIBC Asset Management Inc’s holdings in MercadoLibre were worth $15,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its stake in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares in the last quarter. Swedbank AB increased its position in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares during the period. Stratos Wealth Advisors LLC raised its stake in MercadoLibre by 14.7% in the third quarter. Stratos Wealth Advisors LLC now owns 273 shares of the company’s stock valued at $562,000 after purchasing an additional 35 shares in the last quarter. Net Worth Advisory Group acquired a new stake in MercadoLibre during the third quarter worth about $345,000. Finally, Raymond James & Associates increased its holdings in MercadoLibre by 15.4% in the 3rd quarter. Raymond James & Associates now owns 40,194 shares of the company’s stock valued at $82,476,000 after buying an additional 5,354 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,109.99 on Tuesday. The stock has a market cap of $106.98 billion, a price-to-earnings ratio of 74.45, a P/E/G ratio of 1.06 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 twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company’s fifty day moving average is $1,840.51 and its 200 day moving average is $1,945.14.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Morgan Stanley decreased their target price on 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. Two 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $2,244.69.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.