Teacher Retirement System of Texas Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Teacher Retirement System of Texas boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,956 shares of the company's stock after acquiring an additional 1,192 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of MercadoLibre worth $81,851,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MELI. Capital International Investors grew its position in shares of MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after purchasing an additional 405,425 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $565,306,000. Capital World Investors increased its holdings in shares of 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 during the period. Finally, Norges Bank bought a new stake in MercadoLibre during the fourth quarter worth approximately $383,051,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MELI. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded up $34.98 during trading on Thursday, reaching $2,507.03. The company had a trading volume of 194,179 shares, compared to its average volume of 388,884. The company has a fifty day moving average of $2,457.38 and a two-hundred day moving average of $2,123.28. The stock has a market capitalization of $127.11 billion, a P/E ratio of 61.66, a price-to-earnings-growth ratio of 1.47 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

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

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.