Prakash Investment Advisors LLC Sells 100 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

Prakash Investment Advisors LLC reduced its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,000 shares of the specialty retailer’s stock after selling 100 shares during the quarter. Prakash Investment Advisors LLC’s holdings in Ulta Beauty were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ULTA. Prestige Wealth Management Group LLC increased its stake in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 34 shares in the last quarter. American National Bank & Trust bought a new stake in Ulta Beauty during the 1st quarter valued at about $29,000. Rakuten Securities Inc. increased its stake in Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 59 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 40 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Ulta Beauty during the 1st quarter valued at about $37,000. 90.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the sale, the insider now owns 7,632 shares in the company, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ULTA. B. Riley dropped their price target on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. BMO Capital Markets dropped their price target on shares of Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a report on Friday, March 14th. Piper Sandler reaffirmed a “neutral” rating and set a $437.00 price target (up previously from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Evercore ISI raised their price target on shares of Ulta Beauty from $465.00 to $490.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, Canaccord Genuity Group raised their price target on shares of Ulta Beauty from $510.00 to $542.00 and gave the company a “buy” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty currently has an average rating of “Moderate Buy” and an average target price of $462.22.

Ulta Beauty Trading Up 0.1%

NASDAQ ULTA opened at $458.27 on Friday. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $491.98. The stock has a market cap of $20.60 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.76 and a beta of 1.09. The company’s 50 day moving average is $427.68 and its two-hundred day moving average is $400.09.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the business earned $6.47 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.