Alta Capital Management LLC Has $43.94 Million Stock Position in MercadoLibre, Inc. $MELI

Alta Capital Management LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,803 shares of the company’s stock after buying an additional 3,583 shares during the period. MercadoLibre comprises approximately 2.4% of Alta Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Alta Capital Management LLC’s holdings in MercadoLibre were worth $43,941,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in MercadoLibre in the second quarter valued at about $29,000. Curio Wealth LLC increased its stake in shares of MercadoLibre by 1,400.0% in the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after buying an additional 14 shares during the period. Stone House Investment Management LLC bought a new position in MercadoLibre in the 2nd quarter valued at approximately $39,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre in the 3rd quarter valued at approximately $35,000. Finally, Cullen Frost Bankers Inc. boosted its position in MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after buying an additional 8 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MELI. Morgan Stanley raised their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Benchmark decreased their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, BTIG Research restated a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,876.88.

MercadoLibre Stock Down 2.2%

Shares of NASDAQ:MELI opened at $2,099.90 on Wednesday. The business’s 50-day moving average is $2,076.66 and its 200-day moving average is $2,211.92. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The company has a market capitalization of $106.46 billion, a price-to-earnings ratio of 51.24, a P/E/G ratio of 1.07 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,136 shares of company stock valued at $2,308,788 in the last quarter. 0.25% of the stock is currently owned by company insiders.

About MercadoLibre

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.