Insider Selling: eToro Group (NASDAQ:ETOR) Director Sells 100,000 Shares of Stock

Key Points

• Director Shalev Eddy sold 100,000 eToro shares at an average price of $31.20, generating $3.12 million and reducing the director’s stake by 33.7% to 196,779 shares.
• eToro shares rose 2.1% to $31.69 in midday trading, while the company’s latest quarterly earnings of $0.68 per share beat analyst expectations of $0.61 despite a 23.9% year-over-year revenue decline.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $50.20, although several firms recently lowered their targets and one downgraded the stock to “sell.”

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) Director Shalev Eddy sold 100,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $31.20, for a total value of $3,120,000.00. Following the completion of the sale, the director directly owned 196,779 shares in the company, valued at approximately $6,139,504.80. The trade was a 33.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

eToro Group Trading Up 2.1%

Shares of NASDAQ ETOR traded up $0.66 during midday trading on Monday, reaching $31.69. 389,681 shares of the stock were exchanged, compared to its average volume of 1,198,353. The stock has a 50 day moving average price of $35.56 and a 200-day moving average price of $34.99. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.63 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.82 and a beta of 1.68. eToro Group Ltd. has a 52-week low of $24.74 and a 52-week high of $47.70.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. The firm had revenue of $1.59 billion for the quarter. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The firm's revenue was down 23.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Equities research analysts expect that eToro Group Ltd. will post 2.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in eToro Group during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 727 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of eToro Group by 45.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company's stock worth $74,000 after purchasing an additional 555 shares during the period. State of Wyoming increased its position in eToro Group by 180.0% during the 1st quarter. State of Wyoming now owns 1,932 shares of the company's stock worth $58,000 after purchasing an additional 1,242 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in eToro Group during the 2nd quarter worth approximately $184,000.

Analysts Set New Price Targets

Several research firms recently commented on ETOR. Needham & Company LLC dropped their target price on eToro Group from $66.00 to $53.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of eToro Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Mizuho cut their price objective on shares of eToro Group from $60.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, August 12th. Weiss Ratings cut shares of eToro Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 25th. Finally, Canaccord Genuity Group lowered their target price on shares of eToro Group from $65.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, August 20th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.20.

About eToro Group

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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