State of New Jersey Common Pension Fund D Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

State of New Jersey Common Pension Fund D trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,604 shares of the company’s stock after selling 7,725 shares during the period. State of New Jersey Common Pension Fund D owned 0.09% of MercadoLibre worth $71,669,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after buying an additional 26,679 shares in the last quarter. Townsquare Capital LLC grew its position 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 in the last quarter. California Public Employees Retirement System lifted its holdings in shares of MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after acquiring an additional 1,277 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after acquiring an additional 4,065 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 3.1 %

MELI stock traded up $42.17 during trading on Friday, hitting $1,406.00. 443,255 shares of the company’s stock traded hands, compared to its average volume of 384,968. The firm has a market capitalization of $71.28 billion, a P/E ratio of 69.80, a PEG ratio of 0.91 and a beta of 1.44. The business has a fifty day simple moving average of $1,530.62 and a two-hundred day simple moving average of $1,527.51. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.25 earnings per share. Sell-side analysts anticipate that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup decreased their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Barclays decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Susquehanna raised their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Wedbush decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,790.36.

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.