Toronto Dominion Bank Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Toronto Dominion Bank increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 26.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,967 shares of the company's stock after purchasing an additional 1,262 shares during the period. Toronto Dominion Bank's holdings in MercadoLibre were worth $12,244,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Planning Capital Management Corp boosted its stake in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company's stock worth $123,000 after buying an additional 5 shares during the period. Mount Lucas Management LP raised its stake in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company's stock valued at $293,000 after acquiring an additional 5 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company's stock valued at $2,419,000 after purchasing an additional 6 shares during the period. Finally, Evolutionary Tree Capital Management LLC increased its holdings in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company's stock valued at $3,403,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a research note on Wednesday, August 28th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price objective for the company. Finally, Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,267.67.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $46.91 on Friday, hitting $1,823.86. The company's stock had a trading volume of 410,999 shares, compared to its average volume of 369,205. The company has a market capitalization of $92.46 billion, a P/E ratio of 64.36, a price-to-earnings-growth ratio of 1.29 and a beta of 1.57. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The firm has a fifty day moving average price of $1,992.95 and a 200-day moving average price of $1,881.59. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the firm'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 transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company's stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.