MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 79,983 shares of the company’s stock after selling 3,869 shares during the quarter. California Public Employees Retirement System’s holdings in MercadoLibre were worth $136,006,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MELI. 1620 Investment Advisors Inc. boosted its stake in shares of MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares during the period. Nvwm LLC boosted its position in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after buying an additional 6 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of MercadoLibre by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after acquiring an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC increased its position in shares of MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after acquiring an additional 7 shares during the last quarter. Finally, Savant Capital LLC increased its position in shares of MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $2,048.07 on Monday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a fifty day moving average price of $2,028.39 and a 200 day moving average price of $1,973.66. The company has a market cap of $103.83 billion, a P/E ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Susquehanna boosted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2,402.81.

About MercadoLibre

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.