New York State Common Retirement Fund Sells 2,993 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

New York State Common Retirement Fund lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 58,281 shares of the company’s stock after selling 2,993 shares during the period. New York State Common Retirement Fund’s holdings in MercadoLibre were worth $91,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after acquiring an additional 26,679 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after acquiring an additional 14 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after acquiring an additional 1,277 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after acquiring an additional 4,065 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MELI. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Barclays reduced their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Citigroup reduced their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a research report on Tuesday. Finally, Susquehanna raised their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,804.64.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $23.96 during midday trading on Tuesday, reaching $1,392.19. The company’s stock had a trading volume of 194,193 shares, compared to its average volume of 384,319. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $1,552.54 and a 200 day moving average of $1,528.67. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The firm has a market capitalization of $70.58 billion, a PE ratio of 70.02, a P/E/G ratio of 0.87 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the firm earned $3.25 EPS. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal year.

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.