New York State Common Retirement Fund Sells 2,993 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

New York State Common Retirement Fund decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,281 shares of the company's stock after selling 2,993 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of MercadoLibre worth $91,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company's stock valued at $67,900,000 after purchasing an additional 26,679 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of MercadoLibre by 0.9% during the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company's stock valued at $1,964,000 after purchasing an additional 14 shares during the period. California Public Employees Retirement System increased its holdings in shares of MercadoLibre by 1.5% during the third quarter. California Public Employees Retirement System now owns 89,312 shares of the company's stock valued at $113,237,000 after purchasing an additional 1,277 shares during the period. Vanguard Group Inc. increased its holdings in shares of MercadoLibre by 2.3% during the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company's stock valued at $226,716,000 after purchasing an additional 4,065 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company's stock worth $229,703,000 after acquiring an additional 146,034 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MELI traded up $26.77 during midday trading on Tuesday, hitting $1,395.00. 416,349 shares of the company traded hands, compared to its average volume of 387,495. The firm has a 50 day moving average of $1,552.54 and a 200-day moving average of $1,528.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a market cap of $70.73 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 0.87 and a beta of 1.44. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre's revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.25 earnings per share. On average, analysts forecast that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wedbush restated an "outperform" rating and set a $2,000.00 price objective on shares of MercadoLibre in a research report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Barclays decreased their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 3rd. UBS Group reduced their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a "buy" rating on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,804.64.

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.