Wellington Management Group LLP Purchases New Position in eToro Group Ltd. $ETOR

Wellington Management Group LLP bought a new stake in shares of eToro Group Ltd. (NASDAQ:ETOR) during the 2nd quarter, HoldingsChannel reports. The firm bought 560,777 shares of the company’s stock, valued at approximately $22,134,000.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in eToro Group in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of eToro Group by 365.3% during the first quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock valued at $28,000 after acquiring an additional 727 shares during the period. State of Wyoming grew its position in eToro Group by 180.0% in the 1st quarter. State of Wyoming now owns 1,932 shares of the company’s stock worth $58,000 after purchasing an additional 1,242 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in eToro Group by 45.1% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock worth $74,000 after buying an additional 555 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of eToro Group during the third quarter valued at $124,000.

eToro Group Price Performance

eToro Group stock opened at $32.47 on Monday. The firm has a fifty day moving average price of $34.97 and a two-hundred day moving average price of $35.16. eToro Group Ltd. has a fifty-two week low of $24.74 and a fifty-two week high of $47.25. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02.

eToro Group (NASDAQ:ETOR) last released its earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%.The firm had revenue of $1.59 billion for the quarter. During the same period last year, the business earned $0.56 EPS. The business’s quarterly revenue was down 23.9% compared to the same quarter last year. As a group, analysts forecast that eToro Group Ltd. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the transaction, the director directly owned 196,779 shares in the company, valued at $6,139,504.80. The trade was a 33.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ETOR shares. Weiss Ratings cut eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 25th. Keefe, Bruyette & Woods reduced their price objective on shares of eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, August 12th. Citizens Jmp increased their target price on eToro Group from $85.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, May 13th. Cantor Fitzgerald decreased their price target on shares of eToro Group from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, August 12th. Finally, Mizuho reduced their price objective on eToro Group from $60.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, eToro Group currently has a consensus rating of “Moderate Buy” and an average target price of $49.88.

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.