Intrinsic Edge Capital Management LLC Makes New Investment in eToro Group Ltd. $ETOR

Key Points

• Intrinsic Edge Capital Management purchased 190,000 eToro shares worth approximately $5.7 million in the first quarter, representing about 0.23% of the company. Several other institutional investors also increased or initiated positions.
• eToro reported quarterly earnings of $0.91 per share, beating estimates of $0.70, on $2.44 billion in revenue; however, revenue declined 35% year over year. The stock recently opened at $36.03, within a 52-week range of $24.74 to $63.58.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $55.80, while company insiders—including the CEO and a director—recently sold shares.

Intrinsic Edge Capital Management LLC bought a new stake in eToro Group Ltd. (NASDAQ:ETOR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 190,000 shares of the company's stock, valued at approximately $5,706,000. Intrinsic Edge Capital Management LLC owned approximately 0.23% of eToro Group as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Altshuler Shaham Ltd raised its position in eToro Group by 1.5% in the 1st quarter. Altshuler Shaham Ltd now owns 350,717 shares of the company's stock valued at $10,532,000 after buying an additional 5,077 shares during the last quarter. Amundi purchased a new position in eToro Group during the 1st quarter worth $271,000. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 727 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of eToro Group by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 15,331 shares of the company's stock worth $460,000 after acquiring an additional 331 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of eToro Group by 6.0% in the first quarter. Royal Bank of Canada now owns 11,801 shares of the company's stock valued at $354,000 after purchasing an additional 668 shares during the last quarter.

eToro Group Stock Performance

NASDAQ ETOR opened at $36.03 on Thursday. eToro Group Ltd. has a 52-week low of $24.74 and a 52-week high of $63.58. The company has a 50-day simple moving average of $38.94 and a 200 day simple moving average of $34.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92. The company has a market capitalization of $2.99 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The business had revenue of $2.44 billion for the quarter. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. The business's revenue was down 35.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. On average, research analysts predict that eToro Group Ltd. will post 2.81 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ETOR. Citizens Jmp raised their price target on shares of eToro Group from $85.00 to $90.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 13th. Needham & Company LLC increased their price objective on shares of eToro Group from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Zacks Research downgraded eToro Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Wall Street Zen raised eToro Group from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Finally, The Goldman Sachs Group increased their price target on eToro Group from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, May 28th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, eToro Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.80.

Insider Activity at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of eToro Group 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 owned 296,779 shares of the company's stock, valued at approximately $12,245,101.54. The trade was a 25.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.90, for a total value of $2,311,204.00. Following the completion of the transaction, the chief executive officer owned 20,660 shares in the company, valued at approximately $865,654. The trade was a 72.75% decrease in their position. 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 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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