New York State Common Retirement Fund Has $54.79 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

New York State Common Retirement Fund lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,084 shares of the company's stock after selling 6,133 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of MercadoLibre worth $54,788,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MELI. Capital International Investors boosted its holdings in shares of MercadoLibre by 38.7% in 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Capital World Investors boosted its holdings in shares of MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $383,051,000. Finally, Capital Research Global Investors boosted its holdings in shares of MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after buying an additional 179,807 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 0.6%

Shares of NASDAQ MELI opened at $2,387.45 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The stock has a market capitalization of $121.04 billion, a P/E ratio of 58.72, a PEG ratio of 1.42 and a beta of 1.49. The stock's fifty day moving average is $2,486.03 and its 200 day moving average is $2,164.17.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter last year, the business earned $6.78 earnings per share. MercadoLibre's revenue was up 37.0% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on MELI. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. 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. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.

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.

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