State of New Jersey Common Pension Fund D Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

State of New Jersey Common Pension Fund D raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,844 shares of the company’s stock after buying an additional 461 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of MercadoLibre worth $54,149,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MELI. NBC Securities Inc. increased its holdings in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. Swedbank AB increased its stake in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of MercadoLibre by 1.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,064 shares of the company’s stock worth $2,183,000 after purchasing an additional 18 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in shares of MercadoLibre by 14.7% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 273 shares of the company’s stock worth $562,000 after purchasing an additional 35 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new position in shares of MercadoLibre during the 3rd quarter worth approximately $345,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.1 %

Shares of MELI opened at $2,109.99 on Monday. The firm has a market cap of $106.98 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The company’s fifty day moving average is $1,840.51 and its two-hundred day moving average is $1,943.21. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Citigroup dropped their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and an average price target of $2,244.69.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

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.