Wellington Management Group LLP Takes $22.13 Million Position in eToro Group Ltd. $ETOR

Wellington Management Group LLP acquired a new position in eToro Group Ltd. (NASDAQ:ETOR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 560,777 shares of the company’s stock, valued at approximately $22,134,000. Wellington Management Group LLP owned 0.68% of eToro Group as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of eToro Group in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its stake in eToro Group by 365.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock worth $28,000 after purchasing an additional 727 shares in the last quarter. State of Wyoming increased its stake in shares of eToro Group by 180.0% during the first quarter. State of Wyoming now owns 1,932 shares of the company’s stock worth $58,000 after buying an additional 1,242 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of eToro Group by 45.1% in 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 last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in eToro Group in the third quarter valued at $124,000.

Insider Activity

In related news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $31.20, for a total value of $3,120,000.00. Following the transaction, the director directly owned 196,779 shares of the company’s stock, valued at approximately $6,139,504.80. This trade represents a 33.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETOR. The Goldman Sachs Group dropped their price target on shares of eToro Group from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 25th. Cantor Fitzgerald reduced their price objective on eToro Group from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Needham & Company LLC reduced their target price on shares of eToro Group from $66.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods reduced their price target on eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of eToro Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.88.

eToro Group Price Performance

Shares of NASDAQ ETOR opened at $32.47 on Monday. eToro Group Ltd. has a 1 year low of $24.74 and a 1 year high of $47.25. The firm’s 50 day moving average price is $34.97 and its 200 day moving average price is $35.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.02. The firm has a market cap of $2.69 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64.

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

About eToro Group

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.