MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,281 shares of the company’s stock after selling 2,993 shares during the period. New York State Common Retirement Fund owned 0.12% of MercadoLibre worth $91,591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MELI. Morgan Stanley boosted its stake in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after buying an additional 236,744 shares during the period. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 1.3% in the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock valued at $2,831,721,000 after purchasing an additional 28,095 shares during the period. WCM Investment Management LLC lifted its stake in MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after acquiring an additional 497,535 shares during the last quarter. William Blair Investment Management LLC lifted its stake in MercadoLibre by 6.1% in the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock worth $521,492,000 after acquiring an additional 23,699 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in MercadoLibre by 10.2% in the third quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock worth $462,999,000 after acquiring an additional 33,801 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MELI. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. UBS Group cut their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Susquehanna raised their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $1,804.64.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $23.96 on Tuesday, hitting $1,392.19. The company’s stock had a trading volume of 194,193 shares, compared to its average volume of 384,319. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. 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 firm has a fifty day moving average price of $1,552.54 and a 200-day moving average price of $1,528.67. The company has a market capitalization of $70.58 billion, a P/E ratio of 70.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share 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 firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the firm posted $3.25 EPS. The company’s revenue for the quarter was up 42.0% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal year.

MercadoLibre Company 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.