California State Teachers Retirement System Buys 2,597 Shares of MercadoLibre, Inc. $MELI

California State Teachers Retirement System increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,616 shares of the company's stock after buying an additional 2,597 shares during the quarter. California State Teachers Retirement System owned 0.14% of MercadoLibre worth $119,862,892 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Capital Research Global Investors lifted its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Capital International Investors raised its holdings in MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. BlackRock Inc. purchased a new stake in MercadoLibre during the second quarter valued at about $2,246,015,000. Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 26.4% in the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company's stock valued at $1,216,807,000 after acquiring an additional 126,294 shares during the last quarter. Finally, Linonia Partnership LP boosted its stake in MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock valued at $939,994,000 after buying an additional 423,527 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MELI. Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. BTIG Research reiterated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, September 3rd. Finally, Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Trading Down 2.2%

Shares of MELI traded down $41.94 during mid-day trading on Tuesday, reaching $1,858.30. The company had a trading volume of 330,499 shares, compared to its average volume of 521,202. The firm has a fifty day simple moving average of $1,880.03 and a 200-day simple moving average of $1,767.47. The stock has a market cap of $94.21 billion, a price-to-earnings ratio of 50.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the business posted $10.31 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

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