California Public Employees Retirement System Sells 3,322 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

California Public Employees Retirement System lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,990 shares of the company’s stock after selling 3,322 shares during the quarter. California Public Employees Retirement System’s holdings in MercadoLibre were worth $135,137,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. WCM Investment Management LLC boosted its position in shares of MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. Morgan Stanley boosted its position in shares of MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in shares of MercadoLibre by 108.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock worth $248,475,000 after purchasing an additional 101,757 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC boosted its position in shares of MercadoLibre by 70.9% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 203,083 shares of the company’s stock worth $257,485,000 after purchasing an additional 84,239 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent research reports. Wedbush dropped their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a research report on Wednesday. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Citigroup dropped their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. UBS Group dropped their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,790.36.

MercadoLibre Trading Up 2.0 %

Shares of MELI stock opened at $1,395.00 on Wednesday. The company has a 50 day moving average of $1,546.31 and a 200-day moving average of $1,529.78. 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 12-month low of $1,063.02 and a 12-month high of $1,825.00. The firm has a market cap of $70.73 billion, a P/E ratio of 71.39, a PEG ratio of 0.88 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results 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). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the business earned $3.25 EPS. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 35.77 earnings per share 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.