Pittenger & Anderson Inc. Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Pittenger & Anderson Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,922 shares of the company’s stock after purchasing an additional 336 shares during the quarter. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $4,969,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. boosted its stake in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the last quarter. Swedbank AB boosted its stake in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of MercadoLibre by 1.7% during the third quarter. Bleakley Financial Group LLC now owns 1,064 shares of the company’s stock valued at $2,183,000 after acquiring an additional 18 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of MercadoLibre by 14.7% during the third quarter. Stratos Wealth Advisors LLC now owns 273 shares of the company’s stock valued at $562,000 after acquiring an additional 35 shares during the last quarter. Finally, Net Worth Advisory Group acquired a new stake in shares of MercadoLibre during the third quarter valued at $345,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research analyst reports. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,244.69.

MercadoLibre Price Performance

MELI stock opened at $2,109.99 on Monday. 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 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock’s 50 day moving average is $1,840.51 and its two-hundred day moving average is $1,945.14. The company has a market capitalization of $106.98 billion, a PE ratio of 74.45, a P/E/G ratio of 1.06 and a beta of 1.62.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

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.