MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,844 shares of the company’s stock after acquiring an additional 461 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MercadoLibre were worth $54,149,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. increased its position in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Swedbank AB increased its position in shares of MercadoLibre by 352.8% in 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 during the last quarter. Bleakley Financial Group LLC increased its position in shares of MercadoLibre by 1.7% in 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 during the last quarter. Stratos Wealth Advisors LLC increased its position in shares of MercadoLibre by 14.7% in 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 during the last quarter. Finally, Net Worth Advisory Group bought a new stake in shares of MercadoLibre in the 3rd quarter worth about $345,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Finally, Morgan Stanley lowered 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 report on Monday, November 11th. Two investment 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 stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,244.69.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,109.99 on Monday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $106.98 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The company has a 50-day moving average price of $1,840.51 and a two-hundred day moving average price of $1,943.21.

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.