Whetstone Capital Advisors LLC Has $7.51 Million Stock Position in eToro Group Ltd. $ETOR

Key Points

• Whetstone Capital Advisors increased its eToro Group stake by 36.8% in the second quarter, ending with 190,284 shares valued at approximately $7.51 million.
• Institutional interest rose broadly, with California State Teachers Retirement System, Invesco, Harel Insurance, and T. Rowe Price substantially increasing their positions; meanwhile, eToro director Shalev Eddy sold 100,000 shares for $3.12 million.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and a $50.12 price target versus the stock’s $30.60 opening price. eToro beat quarterly EPS estimates, though revenue fell 23.9% year over year.

Whetstone Capital Advisors LLC raised its holdings in shares of eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 36.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,284 shares of the company's stock after acquiring an additional 51,197 shares during the quarter. eToro Group makes up approximately 2.0% of Whetstone Capital Advisors LLC's holdings, making the stock its 12th biggest position. Whetstone Capital Advisors LLC owned approximately 0.23% of eToro Group worth $7,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in eToro Group by 12,484.5% during the second quarter. California State Teachers Retirement System now owns 1,929,333 shares of the company's stock worth $76,151,000 after purchasing an additional 1,914,002 shares during the last quarter. Invesco Ltd. increased its stake in eToro Group by 14,120.4% in the 4th quarter. Invesco Ltd. now owns 974,243 shares of the company's stock valued at $34,225,000 after buying an additional 967,392 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in eToro Group by 61.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company's stock worth $59,716,000 after buying an additional 760,654 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in eToro Group by 67.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company's stock worth $59,571,000 after buying an additional 683,008 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of eToro Group during the 2nd quarter worth about $43,397,000.

Insider Buying and Selling at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $31.20, for a total value of $3,120,000.00. Following the sale, the director owned 196,779 shares in the company, valued at approximately $6,139,504.80. This represents a 33.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of analysts recently issued reports on ETOR shares. Citizens Jmp lifted their target price on eToro Group from $85.00 to $90.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods decreased their price target on eToro Group from $45.00 to $35.00 and set a "market perform" rating for the company in a research note on Wednesday, August 12th. The Goldman Sachs Group boosted their price target on eToro Group from $32.00 to $36.00 and gave the stock a "neutral" rating in a research report on Wednesday. Weiss Ratings cut eToro Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 25th. Finally, Canaccord Genuity Group decreased their target price on shares of eToro Group from $65.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 20th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.12.

eToro Group Trading Down 0.9%

Shares of NASDAQ:ETOR opened at $30.60 on Thursday. eToro Group Ltd. has a 52-week low of $24.74 and a 52-week high of $46.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.02. The company has a market capitalization of $2.54 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.74 and a beta of 1.64. The company has a 50-day simple moving average of $34.44 and a 200 day simple moving average of $35.15.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%.The firm had revenue of $1.59 billion for the quarter. During the same quarter in the prior year, the company earned $0.56 EPS. eToro Group's quarterly revenue was down 23.9% on a year-over-year basis. Sell-side analysts forecast that eToro Group Ltd. will post 2.56 earnings per share for the current 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.

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