Wellington Management Group LLP Cuts Stake in Oddity Tech Ltd. (NASDAQ:ODD)

Wellington Management Group LLP trimmed its position in shares of Oddity Tech Ltd. (NASDAQ:ODD) by 60.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 117,002 shares of the company’s stock after selling 182,275 shares during the period. Wellington Management Group LLP’s holdings in Oddity Tech were worth $4,916,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ODD. Mark Sheptoff Financial Planning LLC purchased a new stake in Oddity Tech during the 4th quarter valued at about $42,000. Wells Fargo & Company MN lifted its stake in Oddity Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after acquiring an additional 449 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in Oddity Tech by 49.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,650 shares of the company’s stock valued at $153,000 after acquiring an additional 1,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Oddity Tech during the 4th quarter valued at about $246,000. Finally, Blue Trust Inc. lifted its stake in Oddity Tech by 35.8% during the 4th quarter. Blue Trust Inc. now owns 6,565 shares of the company’s stock valued at $276,000 after acquiring an additional 1,731 shares during the period. 35.88% of the stock is owned by hedge funds and other institutional investors.

Oddity Tech Stock Up 1.0%

Shares of NASDAQ:ODD opened at $77.26 on Wednesday. The firm’s 50 day moving average price is $54.84 and its 200-day moving average price is $48.27. Oddity Tech Ltd. has a twelve month low of $32.71 and a twelve month high of $79.18. The stock has a market capitalization of $4.31 billion, a PE ratio of 47.11, a price-to-earnings-growth ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The firm had revenue of $268.08 million for the quarter, compared to analysts’ expectations of $260.71 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up 26.7% on a year-over-year basis. Analysts expect that Oddity Tech Ltd. will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America upped their target price on shares of Oddity Tech from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $66.00 target price on shares of Oddity Tech in a research note on Tuesday, April 22nd. Barclays upped their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Truist Financial upped their target price on shares of Oddity Tech from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group upped their target price on shares of Oddity Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Oddity Tech Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products.