Sumitomo Mitsui Trust Group Inc. Sells 22,722 Shares of eToro Group Ltd. $ETOR

Sumitomo Mitsui Trust Group Inc. decreased its position in eToro Group Ltd. (NASDAQ:ETOR) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 456,759 shares of the company’s stock after selling 22,722 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.56% of eToro Group worth $13,716,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. bought a new position in shares of eToro Group in the second quarter valued at approximately $669,000. Invesco Ltd. bought a new stake in eToro Group during the second quarter worth $15,392,000. Nebula Research & Development LLC bought a new stake in eToro Group during the second quarter worth $272,000. Squarepoint Ops LLC purchased a new position in eToro Group in the second quarter worth $1,270,000. Finally, Raymond James Financial Inc. bought a new position in eToro Group in the 2nd quarter valued at $1,333,000.

Insider Activity

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

eToro Group Price Performance

Shares of NASDAQ ETOR opened at $38.14 on Wednesday. The stock has a fifty day simple moving average of $39.45 and a two-hundred day simple moving average of $34.55. eToro Group Ltd. has a 1-year low of $24.74 and a 1-year high of $65.95. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.02.

eToro Group (NASDAQ:ETOR) last released its 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. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.The business had revenue of $2.44 billion during the quarter. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s quarterly revenue was down 35.0% compared to the same quarter last year. Analysts anticipate that eToro Group Ltd. will post 2.79 earnings per share for the current year.

Analyst Ratings Changes

ETOR has been the subject of several research analyst reports. TD Cowen raised their target price on eToro Group from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Needham & Company LLC boosted their price target on shares of eToro Group from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Canaccord Genuity Group restated a “buy” rating and set a $65.00 price target on shares of eToro Group in a research report on Tuesday, June 9th. Jefferies Financial Group raised their price objective on shares of eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Finally, Citizens Jmp lifted their price objective on shares of eToro Group from $85.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.80.

eToro Group Company 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.