Tobam Has $773,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Tobam raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 70.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 396 shares of the company's stock after purchasing an additional 164 shares during the period. Tobam's holdings in MercadoLibre were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its position in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after purchasing an additional 179,807 shares during the period. Capital International Investors increased its stake in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Capital World Investors increased its stake in shares of MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after acquiring an additional 2,048 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.1%

NASDAQ MELI traded up $3.16 during trading hours on Friday, reaching $2,371.98. 341,577 shares of the company's stock were exchanged, compared to its average volume of 386,370. MercadoLibre, Inc. has a one year low of $1,550.00 and a one 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. The company's 50-day moving average is $2,340.95 and its two-hundred day moving average is $2,074.79. The company has a market capitalization of $120.25 billion, a price-to-earnings ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm posted $6.78 EPS. The business's revenue was up 37.0% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Wall Street Zen raised MercadoLibre from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,632.50.

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.