MercadoLibre, Inc. $MELI Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,019 shares of the company’s stock after selling 1,145 shares during the quarter. California State Teachers Retirement System’s holdings in MercadoLibre were worth $117,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors increased its holdings in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital International Investors lifted its position in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after purchasing an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock worth $1,216,807,000 after purchasing an additional 126,294 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 0.0%

MELI opened at $1,863.31 on Thursday. The business has a 50 day moving average price of $1,720.22 and a 200 day moving average price of $1,806.54. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm has a market cap of $94.47 billion, a P/E ratio of 49.18, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business earned $9.74 EPS. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current year.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.