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

New York State Common Retirement Fund lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,217 shares of the company’s stock after buying an additional 5,843 shares during the period. New York State Common Retirement Fund owned about 0.07% of MercadoLibre worth $58,184,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Jennison Associates LLC raised its stake in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares in the last quarter. FMR LLC raised its stake in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares in the last quarter. State Street Corp raised its stake in shares of MercadoLibre by 3.1% during the 3rd 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 in the last quarter. Wellington Management Group LLP raised its stake in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Citigroup dropped their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. 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. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Price Performance

MELI stock opened at $2,075.79 on Thursday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock’s fifty day simple moving average is $1,853.78 and its 200-day simple moving average is $1,951.83. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $105.24 billion, a price-to-earnings ratio of 73.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

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.