Capital World Investors Raises Stock Holdings in eToro Group Ltd. $ETOR

Key Points

• Capital World Investors raised its stake in eToro by 49.3% in Q3, owning 877,969 shares (about 1.07% of the company) valued at roughly $36.2 million.
• Several other large funds (Balyasny, Adage, Nikko, Marshall Wace, BlueCrest) also initiated or added positions recently, indicating rising institutional interest in ETOR.
• eToro beat quarterly EPS expectations ($0.71 vs. $0.60) and analysts maintain a consensus rating of Moderate Buy with an average target of $58.44.

Capital World Investors increased its holdings in shares of eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 49.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 877,969 shares of the company's stock after acquiring an additional 289,719 shares during the period. Capital World Investors owned about 1.07% of eToro Group worth $36,234,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ETOR. Balyasny Asset Management L.P. purchased a new stake in eToro Group in the second quarter worth $43,397,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of eToro Group during the second quarter worth approximately $33,812,000. Nikko Asset Management Americas Inc. purchased a new position in shares of eToro Group during the second quarter worth approximately $27,875,000. Marshall Wace LLP bought a new stake in shares of eToro Group during the second quarter valued at approximately $17,360,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of eToro Group in the 2nd quarter worth $16,781,000.

Wall Street Analyst Weigh In

ETOR has been the subject of several research reports. Zacks Research cut shares of eToro Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Mizuho reduced their price target on eToro Group from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, January 16th. TD Cowen decreased their price objective on eToro Group from $54.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, January 14th. The Goldman Sachs Group reissued a "neutral" rating on shares of eToro Group in a research report on Monday. Finally, Needham & Company LLC restated a "buy" rating and set a $58.00 target price on shares of eToro Group in a research note on Wednesday, February 18th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $58.44.

eToro Group Stock Performance

Shares of NASDAQ ETOR opened at $29.98 on Friday. The company has a current ratio of 4.89, a quick ratio of 4.89 and a debt-to-equity ratio of 0.03. eToro Group Ltd. has a 12 month low of $24.74 and a 12 month high of $79.96. The company has a 50 day simple moving average of $30.72 and a two-hundred day simple moving average of $36.89. The stock has a market cap of $2.46 billion and a price-to-earnings ratio of 13.50.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.11. eToro Group had a net margin of 1.56% and a return on equity of 21.35%. The firm had revenue of $3.87 billion for the quarter.

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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