MercadoLibre, Inc. $MELI Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in MercadoLibre, Inc. by 10.9%, now holding 35,016 shares worth approximately $91.5 million.
• MercadoLibre reported an earnings miss for the last quarter with EPS of $10.31, falling short of expectations of $12.01, despite a 33.8% year-over-year revenue increase to $6.79 billion.
• Various analysts have set new price targets for MercadoLibre, with Cantor Fitzgerald raising its target from $2,700.00 to $2,900.00, while JPMorgan decreased its target from $2,700.00 to $2,600.00.

TD Asset Management Inc cut its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,016 shares of the company's stock after selling 4,281 shares during the quarter. TD Asset Management Inc owned 0.07% of MercadoLibre worth $91,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC grew its stake in MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after purchasing an additional 18,731 shares in the last quarter. Invesco Ltd. grew its stake in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. Generation Investment Management LLP grew its stake in MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock worth $1,035,061,000 after purchasing an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC grew its stake in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after purchasing an additional 87,912 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 0.8%

MELI opened at $2,157.82 on Wednesday. The business's 50-day simple moving average is $2,354.09 and its 200-day simple moving average is $2,347.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market capitalization of $109.40 billion, a P/E ratio of 53.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the firm posted $10.48 EPS. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. Analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MELI. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a report on Friday, October 3rd. Finally, Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,810.88.

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.

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