201,393 Shares in eToro Group Ltd. $ETOR Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 201,393 eToro shares worth approximately $6.05 million, representing about 0.24% of the company. Several other institutional investors also increased their positions.
• eToro reported quarterly EPS of $0.91, beating estimates of $0.70, on revenue of $2.44 billion; however, revenue declined 35% year over year. The stock opened at $37.23 and recently traded up 2.2%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $55.80, while CEO Hedva Ber and director Shalev Eddy disclosed sizable stock sales under planned transactions.

Bank of New York Mellon Corp bought a new stake in eToro Group Ltd. (NASDAQ:ETOR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 201,393 shares of the company's stock, valued at approximately $6,048,000. Bank of New York Mellon Corp owned approximately 0.24% of eToro Group as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in eToro Group by 61.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company's stock worth $59,716,000 after buying an additional 760,654 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in eToro Group by 67.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company's stock valued at $59,571,000 after purchasing an additional 683,008 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in eToro Group by 47.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,240,339 shares of the company's stock valued at $43,573,000 after purchasing an additional 401,697 shares during the last quarter. Invesco Ltd. raised its holdings in eToro Group by 14,120.4% during the fourth quarter. Invesco Ltd. now owns 974,243 shares of the company's stock worth $34,225,000 after purchasing an additional 967,392 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of eToro Group by 2.6% during the 4th quarter. Capital World Investors now owns 900,903 shares of the company's stock worth $31,649,000 after buying an additional 22,934 shares during the last quarter.

eToro Group Trading Up 2.2%

Shares of ETOR stock opened at $37.23 on Wednesday. The company has a market capitalization of $3.08 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.68. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.02. The business's 50 day moving average is $38.64 and its two-hundred day moving average is $34.85. eToro Group Ltd. has a twelve month low of $24.74 and a twelve month high of $59.75.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company earned $0.69 EPS. eToro Group's revenue for the quarter was down 35.0% compared to the same quarter last year. Equities analysts forecast that eToro Group Ltd. will post 2.81 EPS for the current year.

Analysts Set New Price Targets

ETOR has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on shares of eToro Group from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Zacks Research lowered eToro Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Needham & Company LLC boosted their target price on eToro Group from $58.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Wall Street Zen raised eToro Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, TD Cowen raised their price target on eToro Group from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.80.

Insider Activity at eToro Group

In other news, CEO Hedva Ber sold 55,160 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the completion of the transaction, the chief executive officer directly owned 20,660 shares of the company's stock, valued at approximately $865,654. This represents a 72.75% decrease in their position. The sale was disclosed in a 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 stock in a transaction on Thursday, May 14th. The stock was 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 owned 296,779 shares of the company's stock, valued at $12,245,101.54. The trade was a 25.20% decrease in their position. The SEC filing for this sale provides additional information.

eToro Group 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.

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