Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in eToro Group Ltd. $ETOR

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of eToro Group Ltd. (NASDAQ:ETOR) by 4.7% during the first quarter, HoldingsChannel reports. The fund owned 456,759 shares of the company’s stock after selling 22,722 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in eToro Group were worth $13,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of eToro Group in the fourth quarter worth $25,000. Blue Trust Inc. purchased a new position in shares of eToro Group in the fourth quarter valued at $42,000. Newbridge Financial Services Group Inc. raised its stake in shares of eToro Group by 45.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after purchasing an additional 555 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in eToro Group during the 3rd quarter worth about $124,000. Finally, Parallel Advisors LLC lifted its holdings in eToro Group by 2,128.3% during the 4th quarter. Parallel Advisors LLC now owns 4,011 shares of the company’s stock worth $141,000 after purchasing an additional 3,831 shares in the last quarter.

eToro Group Stock Down 0.2%

ETOR stock opened at $38.14 on Wednesday. The company’s 50 day moving average is $39.45 and its 200 day moving average is $34.55. The stock 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 Ltd. has a 1-year low of $24.74 and a 1-year high of $65.95.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. The business had revenue of $2.44 billion during the quarter. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was down 35.0% compared to the same quarter last year. Sell-side analysts predict that eToro Group Ltd. will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling at eToro Group

In related news, CEO Hedva Ber sold 55,160 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of the stock in a transaction on 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 transaction, the director directly owned 296,779 shares in the company, valued at approximately $12,245,101.54. This represents a 25.20% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Ratings Changes

A number of research firms have weighed in on ETOR. Canaccord Genuity Group reaffirmed a “buy” rating and set a $65.00 target price on shares of eToro Group in a 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 company a “buy” rating in a research report on Monday, April 6th. Needham & Company LLC boosted their price objective on shares of eToro Group from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Citizens Jmp boosted their price objective on shares of eToro Group from $85.00 to $90.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 13th. Finally, TD Cowen boosted their price target on shares of eToro Group from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.