Amova Asset Management Americas Inc. Decreases Stake in eToro Group Ltd. $ETOR

Key Points

• Amova Asset Management Americas cut its eToro stake by 8.3% in Q4, selling 43,662 shares and leaving it with 479,481 shares valued at about $16.84 million.
• eToro recently reported strong quarterly earnings, posting $0.91 EPS versus the $0.70 consensus estimate, even though revenue fell 35% year over year to $2.44 billion.
• Several insiders sold shares, including Director Shalev Eddy and CEO Hedva Ber, while analysts remain mostly constructive with a Moderate Buy consensus and an average price target of $55.80.

Amova Asset Management Americas Inc. decreased its position in eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 479,481 shares of the company's stock after selling 43,662 shares during the period. Amova Asset Management Americas Inc. owned 0.59% of eToro Group worth $16,839,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of eToro Group during the 4th quarter valued at $43,136,000. ARK Investment Management LLC grew its position in shares of eToro Group by 56.1% during the 3rd quarter. ARK Investment Management LLC now owns 387,164 shares of the company's stock valued at $15,978,000 after purchasing an additional 139,132 shares in the last quarter. Ibex Investors LLC bought a new stake in shares of eToro Group during the 3rd quarter worth $1,663,000. Hillman Co. bought a new stake in shares of eToro Group during the 4th quarter worth $1,196,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of eToro Group by 89.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 135,060 shares of the company's stock worth $4,745,000 after acquiring an additional 63,669 shares during the last quarter.

eToro Group Stock Performance

NASDAQ ETOR opened at $38.17 on Wednesday. The company has a 50-day simple moving average of $36.96 and a two-hundred day simple moving average of $34.55. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. eToro Group Ltd. has a 12-month low of $24.74 and a 12-month high of $79.96. The firm has a market cap of $3.16 billion and a price-to-earnings ratio of 15.97.

eToro Group (NASDAQ:ETOR - Get Free Report) last posted its quarterly 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 company earned $0.69 earnings per share. The business's quarterly revenue was down 35.0% on a year-over-year basis. On average, equities analysts forecast that eToro Group Ltd. will post 2.76 EPS for the current year.

Insider Activity

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the completion of the sale, the director directly owned 296,779 shares in the company, valued at $12,245,101.54. This represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the sale, the chief executive officer owned 20,660 shares of the company's stock, valued at approximately $865,654. The trade was a 72.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

ETOR has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of eToro Group from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Susquehanna lifted their price objective on shares of eToro Group from $55.00 to $57.00 and gave the stock a "positive" rating in a report on Wednesday, May 13th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $65.00 price objective on shares of eToro Group in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of eToro Group from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised shares of eToro Group from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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