TD Asset Management Inc Trims Stock Position in eToro Group Ltd. $ETOR

Key Points

• TD Asset Management cut its stake in eToro by 71.6% in Q3, selling 80,661 shares and retaining 31,959 shares worth $1.32 million.
• Analysts have trimmed price targets (e.g., Citigroup to $47, Canaccord to $65), but the consensus remains a “Moderate Buy” with an average target of $58.44.
• eToro beat quarterly EPS estimates ($0.71 vs. $0.60) on $3.87 billion in revenue; the stock trades around $32.70 with a market cap of $2.68 billion and a 52-week range of $24.74–$79.96.

TD Asset Management Inc cut its stake in eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 71.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,959 shares of the company's stock after selling 80,661 shares during the period. TD Asset Management Inc's holdings in eToro Group were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of eToro Group by 7.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,270 shares of the company's stock worth $341,000 after purchasing an additional 550 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in eToro Group in the 2nd quarter valued at about $82,000. Jones Financial Companies Lllp raised its position in shares of eToro Group by 194.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company's stock valued at $101,000 after purchasing an additional 1,631 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in eToro Group by 88.7% in the third quarter. SBI Securities Co. Ltd. now owns 3,618 shares of the company's stock valued at $149,000 after acquiring an additional 1,701 shares in the last quarter. Finally, TD Waterhouse Canada Inc. acquired a new position in eToro Group during the 2nd quarter worth $160,000.

Analyst Ratings Changes

ETOR has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of eToro Group from $57.00 to $47.00 and set a "neutral" rating on the stock in a report on Tuesday, November 11th. Canaccord Genuity Group reduced their price target on shares of eToro Group from $78.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Bank of America restated a "neutral" rating on shares of eToro Group in a research report on Wednesday, February 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $52.00 price target on shares of eToro Group in a research report on Monday, February 23rd. Finally, Zacks Research lowered eToro Group from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, eToro Group has a consensus rating of "Moderate Buy" and an average price target of $58.44.

eToro Group Stock Performance

eToro Group stock opened at $32.70 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.89 and a quick ratio of 4.63. The company has a market cap of $2.68 billion and a P/E ratio of 14.73. eToro Group Ltd. has a fifty-two week low of $24.74 and a fifty-two week high of $79.96. The firm's 50 day simple moving average is $31.16 and its 200-day simple moving average is $37.39.

eToro Group (NASDAQ:ETOR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 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.