FNG has learned via regulatory filings in the US that eToro “#2” Hedva Ber, who serves as Global COO and Deputy CEO of the online brokerage firm, is planning to cash out about $4 million in shares of the company.

With eToro’s 180 day lockup on share sales by senior management now over following eToro’s May 2025 IPO, eToro executives can now start to monetize some of their stakes in the company, with Hedva Ber being the first to do so.

We expect more such sales by eToro executives to materialize in the near future.

According to the filing, Hedva Ber will be selling a total of 94,000 eToro shares, all acquired by her via eToro’s Employee Stock Option Plan – 16,000 shares in 2021, soon after she joined the company, and 78,000 in 2023. According to eToro’s IPO prospectus, Hedva Ber held about 125,000 eToro shares at the time of the IPO.

The shares will be sold via broker Oppenheimer & Co.

eToro shares (NASDAQ:ETOR), at $41.88, are down by 19% from their $52 IPO price, despite a recent > 10% recovery over the past month from early November lows.

eToro share price chart, May 2025 IPO to present. Source: Google Finance.