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

TD Asset Management Inc trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,338 shares of the company’s stock after selling 3,341 shares during the quarter. TD Asset Management Inc’s holdings in MercadoLibre were worth $63,123,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Baillie Gifford & Co. raised its stake in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the period. Capital Research Global Investors raised its stake in shares of MercadoLibre by 3.4% during the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock worth $4,244,604,000 after buying an additional 59,838 shares during the period. Capital World Investors raised its stake in shares of MercadoLibre by 1.3% during the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after buying an additional 22,659 shares during the period. Schroder Investment Management Group raised its stake in shares of MercadoLibre by 9.8% during the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after buying an additional 50,893 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of MercadoLibre by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after buying an additional 109,228 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research note on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Wedbush reduced their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Down 1.7%

NASDAQ MELI opened at $1,607.80 on Friday. The business has a fifty day moving average price of $1,720.81 and a 200 day moving average price of $1,887.84. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market cap of $81.51 billion, a P/E ratio of 42.43, a P/E/G ratio of 1.01 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the company posted $9.74 earnings per share. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. Research analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.