Amova Asset Management Americas Inc. Trims Holdings in eToro Group Ltd. $ETOR

Amova Asset Management Americas Inc. lessened its holdings in shares of eToro Group Ltd. (NASDAQ:ETOR) by 8.3% during the fourth quarter, Holdings Channel reports. The firm owned 479,481 shares of the company’s stock after selling 43,662 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in eToro Group were worth $16,839,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ETOR. Harel Insurance Investments & Financial Services Ltd. purchased a new position in eToro Group during the 4th quarter valued at about $43,136,000. Balyasny Asset Management L.P. purchased a new position in eToro Group during the 2nd quarter valued at about $43,397,000. Adage Capital Partners GP L.L.C. purchased a new position in eToro Group during the 2nd quarter valued at about $33,812,000. Ibex Investors LLC increased its holdings in eToro Group by 1,016.9% during the 4th quarter. Ibex Investors LLC now owns 450,000 shares of the company’s stock valued at $15,808,000 after purchasing an additional 409,711 shares during the period. Finally, UBS Group AG increased its holdings in eToro Group by 136.6% during the 3rd quarter. UBS Group AG now owns 534,375 shares of the company’s stock valued at $22,054,000 after purchasing an additional 308,525 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ETOR shares. Canaccord Genuity Group restated a “buy” rating and set a $65.00 price target on shares of eToro Group in a report on Tuesday. TD Cowen increased their price target on shares of eToro Group from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Bank of America reissued a “neutral” rating on shares of eToro Group in a research note on Wednesday, February 18th. The Goldman Sachs Group increased their price target on shares of eToro Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group increased their price target on shares of eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, eToro Group has an average rating of “Moderate Buy” and a consensus target price of $55.80.

eToro Group Price Performance

ETOR stock opened at $38.17 on Wednesday. eToro Group Ltd. has a 1 year low of $24.74 and a 1 year high of $79.96. The company has a market cap of $3.16 billion and a P/E ratio of 15.97. The firm has a 50-day moving average of $36.96 and a 200 day moving average of $34.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.92.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. The company had revenue of $2.44 billion during the quarter. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. eToro Group’s quarterly revenue was down 35.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. On average, sell-side analysts forecast that eToro Group Ltd. will post 2.76 EPS for the current year.

Insider Transactions at eToro Group

In other eToro Group news, CEO Hedva Ber sold 55,160 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.90, for a total value of $2,311,204.00. Following the sale, the chief executive officer owned 20,660 shares in the company, valued at approximately $865,654. This represents a 72.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the completion of the sale, the director owned 296,779 shares in the company, valued at approximately $12,245,101.54. This trade represents a 25.20% decrease in their position. The SEC filing for this sale provides additional information.

eToro Group Profile

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.