Exchange Traded Concepts LLC Acquires 15,393 Shares of eToro Group Ltd. $ETOR

Exchange Traded Concepts LLC grew its holdings in eToro Group Ltd. (NASDAQ:ETOR) by 27.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 71,391 shares of the company’s stock after buying an additional 15,393 shares during the quarter. Exchange Traded Concepts LLC’s holdings in eToro Group were worth $2,946,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Balyasny Asset Management L.P. purchased a new position in eToro Group during the second quarter valued at approximately $43,397,000. Adage Capital Partners GP L.L.C. bought a new stake in eToro Group during the 2nd quarter valued at $33,812,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of eToro Group in the 2nd quarter valued at $28,048,000. Nikko Asset Management Americas Inc. bought a new position in shares of eToro Group in the 2nd quarter worth $27,875,000. Finally, Marshall Wace LLP purchased a new stake in shares of eToro Group during the 2nd quarter worth $17,360,000.

Wall Street Analyst Weigh In

ETOR has been the topic of several analyst reports. Bank of America lifted their target price on eToro Group from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Citigroup lowered their price target on shares of eToro Group from $57.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Compass Point assumed coverage on shares of eToro Group in a research report on Monday, October 13th. They issued a “buy” rating and a $66.00 price objective on the stock. Needham & Company LLC decreased their target price on shares of eToro Group from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Susquehanna upgraded shares of eToro Group from a “neutral” rating to a “positive” rating and raised their target price for the company from $50.00 to $55.00 in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, eToro Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.18.

eToro Group Stock Down 0.7%

NASDAQ:ETOR opened at $35.95 on Friday. The company has a market cap of $2.95 billion and a PE ratio of 19.43. eToro Group Ltd. has a twelve month low of $32.66 and a twelve month high of $79.96. The company has a current ratio of 4.63, a quick ratio of 4.63 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $38.59 and its two-hundred day moving average is $47.47.

eToro Group (NASDAQ:ETOR) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. eToro Group had a net margin of 1.31% and a return on equity of 25.75%. The business had revenue of $214.60 million during the quarter.

About eToro Group

eToro Group Ltd. (NASDAQ: ETOR) is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.