Renaissance Technologies LLC Buys 100,100 Shares of eToro Group Ltd. $ETOR

Key Points

• Renaissance Technologies increased its eToro Group stake by 51.9% in the first quarter, buying 100,100 shares and bringing its total holding to 292,950 shares worth approximately $8.8 million.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” from 16 analysts and an average price target of $55.80. Several firms recently raised their targets, although Zacks downgraded the stock to “Hold.”
• eToro reported first-quarter adjusted earnings of $0.91 per share, beating estimates of $0.70, but revenue fell 35% year over year to $2.44 billion. The stock recently opened at $35.67, below its 50-day moving average of $38.77.

Renaissance Technologies LLC grew its position in eToro Group Ltd. (NASDAQ:ETOR - Free Report) by 51.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 292,950 shares of the company's stock after purchasing an additional 100,100 shares during the period. Renaissance Technologies LLC owned about 0.35% of eToro Group worth $8,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of eToro Group by 12.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,017,374 shares of the company's stock worth $30,552,000 after purchasing an additional 110,998 shares during the last quarter. Sei Investments Co. bought a new position in shares of eToro Group in the 1st quarter valued at about $2,579,000. State of Wyoming grew its holdings 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 acquiring an additional 1,242 shares during the period. CI Investments Inc. acquired a new stake in shares of eToro Group during the first quarter worth $227,000. Finally, Swiss National Bank grew its position in shares of eToro Group by 9.4% during the 1st quarter. Swiss National Bank now owns 30,200 shares of the company's stock worth $907,000 after buying an additional 2,600 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETOR. Jefferies Financial Group boosted their target price on eToro Group from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Citizens Jmp lifted their target price on eToro Group from $85.00 to $90.00 and gave the stock a "market outperform" rating in a research note on Wednesday, May 13th. Zacks Research lowered eToro Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Susquehanna lifted their price objective on eToro Group from $55.00 to $57.00 and gave the company a "positive" rating in a report on Wednesday, May 13th. Finally, TD Cowen boosted their target price on shares of eToro Group from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.80.

eToro Group Price Performance

Shares of NASDAQ ETOR opened at $35.67 on Monday. The company has a 50 day simple moving average of $38.77 and a 200 day simple moving average of $34.77. The firm has a market cap of $2.96 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 0.77 and a beta of 1.68. eToro Group Ltd. has a 1 year low of $24.74 and a 1 year high of $63.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.92.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.21. The company 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 for the quarter was down 35.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. On average, research analysts forecast that eToro Group Ltd. will post 2.81 EPS for the current year.

Insider Buying and Selling

In other news, Director Shalev Eddy sold 100,000 shares of the business's 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 transaction, the director owned 296,779 shares in the company, valued at approximately $12,245,101.54. The trade was a 25.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hedva Ber sold 55,160 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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).

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