Employees Retirement System of Texas Has $51.35 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Employees Retirement System of Texas increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1,321.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,200 shares of the company's stock after acquiring an additional 28,075 shares during the period. Employees Retirement System of Texas owned about 0.06% of MercadoLibre worth $51,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock worth $927,239,000 after purchasing an additional 2,048 shares during the last quarter. Schroder Investment Management Group boosted its position in MercadoLibre by 9.4% in the fourth quarter. Schroder Investment Management Group now owns 443,156 shares of the company's stock valued at $753,560,000 after buying an additional 38,261 shares in the last quarter. State Street Corp grew its stake in MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company's stock worth $830,190,000 after buying an additional 12,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of MercadoLibre by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 380,956 shares of the company's stock worth $647,793,000 after buying an additional 31,278 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $565,306,000. Institutional investors own 87.62% of the company's stock.

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MercadoLibre Trading Up 3.3 %

Shares of NASDAQ:MELI traded up $62.96 during mid-day trading on Friday, reaching $1,996.95. The stock had a trading volume of 358,711 shares, compared to its average volume of 388,657. The firm has a market cap of $101.24 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The firm has a 50 day simple moving average of $2,036.16 and a two-hundred day simple moving average of $1,958.91. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MELI. The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Susquehanna increased their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Barclays raised their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre has an average rating of "Buy" and a consensus price target of $2,409.69.

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.