Canvas Wealth Advisors LLC Buys 322 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Canvas Wealth Advisors LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,218 shares of the company’s stock after acquiring an additional 322 shares during the period. Canvas Wealth Advisors LLC’s holdings in MercadoLibre were worth $2,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Planning Capital Management Corp grew its holdings in MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP grew its stake in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares during the last quarter. Strategic Blueprint LLC grew its stake in shares of MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after buying an additional 6 shares during the last quarter. Nvwm LLC raised its holdings in shares of MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after buying an additional 6 shares during the period. Finally, NBC Securities Inc. lifted its stake in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction 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 completion of the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several research analyst reports. 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 research report on Tuesday, November 26th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $2,244.69.

MercadoLibre Price Performance

MELI opened at $1,996.65 on Monday. The firm has a market capitalization of $101.22 billion, a PE ratio of 70.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business’s 50-day moving average is $1,831.14 and its two-hundred day moving average is $1,928.50. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year 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.