State of New Jersey Common Pension Fund D Cuts Stake in MercadoLibre, Inc. $MELI

State of New Jersey Common Pension Fund D cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,057 shares of the company’s stock after selling 1,958 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MercadoLibre were worth $58,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after acquiring an additional 296,543 shares in the last quarter. Flossbach Von Storch SE boosted its holdings in MercadoLibre by 1,669.4% in the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock worth $424,666,000 after buying an additional 171,449 shares during the period. Baillie Gifford & Co. boosted its holdings in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the period. Wellington Management Group LLP increased its stake in MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after buying an additional 109,228 shares in the last quarter. Finally, Dragoneer Investment Group LLC bought a new stake in MercadoLibre during the third quarter valued at about $241,591,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research analyst reports. BTIG Research reiterated a “buy” rating and set a $2,400.00 target price on shares of MercadoLibre in a research report on Friday, April 10th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,685.33.

MercadoLibre Price Performance

MELI opened at $1,796.87 on Thursday. The firm has a market capitalization of $91.10 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. The business’s 50-day moving average is $1,764.98 and its two-hundred day moving average is $1,975.45. MercadoLibre, Inc. has a 1 year low of $1,593.21 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Saturday, February 14th. The company reported $11.03 EPS for the quarter. The company had revenue of $8.76 billion during the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. Research analysts anticipate that MercadoLibre, Inc. will post 50.05 earnings per share for the current fiscal year.

MercadoLibre Company Profile

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.