MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,533 shares of the company's stock after purchasing an additional 566 shares during the period. Toronto Dominion Bank's holdings in MercadoLibre were worth $11,109,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MELI. Human Investing LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Brown Lisle Cummings Inc. raised its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre in the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus target price of $2,572.86.

MercadoLibre Stock Up 0.7%

Shares of NASDAQ:MELI traded up $16.73 during trading hours on Friday, reaching $2,562.22. The stock had a trading volume of 405,889 shares, compared to its average volume of 383,003. The stock has a market capitalization of $129.90 billion, a price-to-earnings ratio of 67.96, a P/E/G ratio of 1.12 and a beta of 1.61. The firm's 50 day moving average is $2,233.35 and its 200-day moving average is $2,038.68. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same period last year, the firm earned $6.78 earnings per share. Research analysts predict 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.