Pacific Capital Wealth Advisors Inc. Has $27,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Pacific Capital Wealth Advisors Inc. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 220.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16 shares of the company’s stock after acquiring an additional 11 shares during the quarter. Pacific Capital Wealth Advisors Inc.’s holdings in MercadoLibre were worth $27,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of MercadoLibre by 39.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock worth $386,000 after purchasing an additional 67 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in MercadoLibre by 26.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $47,978,000 after buying an additional 6,153 shares in the last quarter. Mackenzie Financial Corp raised its stake in MercadoLibre by 3.0% during the 2nd quarter. Mackenzie Financial Corp now owns 1,727 shares of the company’s stock worth $2,838,000 after buying an additional 51 shares during the period. Algert Global LLC boosted its holdings in MercadoLibre by 30.0% in the second quarter. Algert Global LLC now owns 390 shares of the company’s stock worth $641,000 after acquiring an additional 90 shares in the last quarter. Finally, Creative Planning grew its stake in MercadoLibre by 44.6% in the second quarter. Creative Planning now owns 6,027 shares of the company’s stock valued at $9,904,000 after acquiring an additional 1,859 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Wedbush decreased their target price 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. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,241.00.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,846.00 on Tuesday. The company has a market capitalization of $93.59 billion, a price-to-earnings ratio of 65.14, a PEG ratio of 0.96 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 stock’s 50-day simple moving average is $1,844.29 and its 200-day simple moving average is $1,913.18. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73.

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.