New York State Common Retirement Fund Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

New York State Common Retirement Fund grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,217 shares of the company's stock after purchasing an additional 5,843 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of MercadoLibre worth $58,184,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MELI. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre in the third quarter worth about $114,417,000. Principal Financial Group Inc. lifted its stake in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock worth $121,948,000 after buying an additional 10,272 shares in the last quarter. KBC Group NV lifted its stake in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company's stock worth $53,923,000 after buying an additional 17,677 shares in the last quarter. Nordea Investment Management AB raised its stake in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after purchasing an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock worth $5,598,000 after purchasing an additional 780 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday. Barclays lifted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $2,364.06.

MercadoLibre Stock Up 7.1 %

Shares of MELI stock traded up $148.80 during trading on Friday, reaching $2,259.27. The company's stock had a trading volume of 1,008,226 shares, compared to its average volume of 363,483. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $114.54 billion, a price-to-earnings ratio of 79.64, a P/E/G ratio of 1.10 and a beta of 1.62. The stock's 50-day moving average price is $1,858.57 and its 200 day moving average price is $1,952.94. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. On average, research analysts anticipate that MercadoLibre, Inc. will post 32.98 EPS 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.