Arizona State Retirement System Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Arizona State Retirement System raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,361 shares of the company's stock after acquiring an additional 205 shares during the quarter. Arizona State Retirement System's holdings in MercadoLibre were worth $26,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Capital International Investors lifted its position in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Capital World Investors lifted its holdings in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares in the last quarter. Norges Bank purchased a new position in MercadoLibre during the fourth quarter valued at approximately $383,051,000. Finally, Capital Research Global Investors boosted its position in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $14.65 during midday trading on Friday, reaching $2,387.45. 341,673 shares of the stock traded hands, compared to its average volume of 389,087. The company's 50 day moving average is $2,486.03 and its 200 day moving average is $2,158.29. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $121.04 billion, a PE ratio of 58.72, a P/E/G ratio of 1.43 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the business earned $6.78 earnings per share. MercadoLibre's quarterly revenue was up 37.0% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.

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.