eToro Group Ltd. $ETOR Shares Sold by Altshuler Shaham Ltd

Key Points

• Altshuler Shaham Ltd. reduced its eToro Group stake by 9.8% in the fourth quarter, selling 37,501 shares and ending with 345,640 shares valued at about $12.1 million.
• Insider selling continued at eToro, with Director Shalev Eddy selling 100,000 shares and CEO Hedva Ber selling 55,160 shares in separate transactions.
• Analysts remain mostly bullish on ETOR, with several firms raising price targets and the stock holding an average Moderate Buy rating and $55.80 target price, despite one recent downgrade to Hold.

Altshuler Shaham Ltd lowered its position in shares of eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,640 shares of the company's stock after selling 37,501 shares during the period. Altshuler Shaham Ltd owned 0.42% of eToro Group worth $12,142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in eToro Group in the fourth quarter valued at $43,136,000. Balyasny Asset Management L.P. purchased a new stake in shares of eToro Group in the second quarter valued at about $43,397,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of eToro Group in the second quarter valued at about $33,812,000. Marex Group plc raised its holdings in shares of eToro Group by 291.3% in the fourth quarter. Marex Group plc now owns 605,205 shares of the company's stock valued at $21,261,000 after buying an additional 450,540 shares during the last quarter. Finally, Ibex Investors LLC raised its holdings in shares of eToro Group by 1,016.9% in the fourth quarter. Ibex Investors LLC now owns 450,000 shares of the company's stock valued at $15,808,000 after buying an additional 409,711 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ETOR shares. TD Cowen upped their target price on shares of eToro Group from $44.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Needham & Company LLC upped their target price on shares of eToro Group from $58.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Jefferies Financial Group upped their target price on shares of eToro Group from $48.00 to $51.00 and gave the company a "buy" rating in a report on Monday, April 6th. Wall Street Zen cut shares of eToro Group from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Bank of America reaffirmed a "neutral" rating on shares of eToro Group in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, eToro Group currently has an average rating of "Moderate Buy" and an average target price of $55.80.

Insider Activity at eToro Group

In other news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hedva Ber sold 55,160 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 20,660 shares in the company, valued at $865,654. This represents a 72.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

eToro Group Trading Down 1.5%

Shares of ETOR opened at $38.45 on Thursday. 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 firm's 50-day moving average is $38.03 and its two-hundred day moving average is $34.53. eToro Group Ltd. has a twelve month low of $24.74 and a twelve month high of $68.66. The firm has a market capitalization of $3.19 billion and a P/E ratio of 16.09.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $2.44 billion for the quarter. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company's quarterly revenue was down 35.0% compared to the same quarter last year. On average, research analysts predict that eToro Group Ltd. will post 2.76 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ETOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for eToro Group Ltd. (NASDAQ:ETOR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.