Sumitomo Mitsui Trust Group Inc. Acquires 101,938 Shares of eToro Group Ltd. $ETOR

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of eToro Group Ltd. (NASDAQ:ETOR) by 24.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,143 shares of the company’s stock after purchasing an additional 101,938 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in eToro Group were worth $21,590,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ETOR. Balyasny Asset Management L.P. acquired a new position in shares of eToro Group in the 2nd quarter worth approximately $43,397,000. Adage Capital Partners GP L.L.C. acquired a new position in eToro Group during the second quarter worth $33,812,000. Nikko Asset Management Americas Inc. bought a new position in shares of eToro Group during the second quarter valued at $27,875,000. Marshall Wace LLP acquired a new stake in shares of eToro Group in the 2nd quarter valued at $17,360,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of eToro Group in the 2nd quarter worth about $16,781,000.

eToro Group Price Performance

ETOR opened at $31.33 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.63 and a quick ratio of 4.63. The stock has a market capitalization of $2.57 billion and a P/E ratio of 16.94. The company’s 50 day simple moving average is $37.43 and its 200-day simple moving average is $43.94. eToro Group Ltd. has a one year low of $30.67 and a one year high of $79.96.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Compass Point began coverage on shares of eToro Group in a report on Monday, October 13th. They set a “buy” rating and a $66.00 price target for the company. The Goldman Sachs Group lowered shares of eToro Group from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a report on Monday, January 5th. Citigroup cut their target price on shares of eToro Group from $57.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Mizuho decreased their price target on eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Needham & Company LLC cut their price objective on eToro Group from $68.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, December 29th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.65.

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.