California Public Employees Retirement System Has $217.34 Million Position in MercadoLibre, Inc. $MELI

California Public Employees Retirement System increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,157 shares of the company’s stock after purchasing an additional 2,065 shares during the period. California Public Employees Retirement System owned approximately 0.16% of MercadoLibre worth $217,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MELI. Jennison Associates LLC raised its holdings in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after buying an additional 81,124 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the period. Generation Investment Management LLP increased its position in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after acquiring an additional 16,878 shares in the last quarter. Schroder Investment Management Group increased its position in shares of MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after acquiring an additional 74,201 shares in the last quarter. Finally, GQG Partners LLC raised its holdings in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Wedbush lifted their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Citigroup dropped their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Trading Down 3.4%

MercadoLibre stock opened at $2,066.42 on Monday. The company has a market cap of $104.77 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 1.48 and a beta of 1.42. The firm has a 50-day moving average of $2,146.45 and a 200-day moving average of $2,331.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the firm posted $7.83 EPS. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.