MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 20.6% during the fourth quarter, Holdings Channel.com reports. The fund 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’s holdings in MercadoLibre were worth $58,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $65,000. Atria Wealth Solutions Inc. raised its position in MercadoLibre by 35.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,151 shares of the company’s stock valued at $3,658,000 after purchasing an additional 558 shares during the period. Kornitzer Capital Management Inc. KS raised its position in MercadoLibre by 7.0% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 13,586 shares of the company’s stock valued at $23,102,000 after purchasing an additional 886 shares during the period. D.A. Davidson & CO. raised its position in MercadoLibre by 1.6% in the fourth quarter. D.A. Davidson & CO. now owns 2,716 shares of the company’s stock valued at $4,618,000 after purchasing an additional 42 shares during the period. Finally, Truist Financial Corp raised its position in MercadoLibre by 0.8% in the fourth quarter. Truist Financial Corp now owns 5,997 shares of the company’s stock valued at $10,198,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,075.79 on Thursday. 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 business has a 50 day moving average of $1,853.78 and a two-hundred day moving average of $1,951.83. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a market cap of $105.24 billion, a P/E ratio of 73.25, a PEG ratio of 1.12 and a beta of 1.62.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MELI shares. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. New Street Research raised 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 report on Thursday, January 30th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2,244.69.

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.