Migdal Insurance & Financial Holdings Ltd. Reduces Stake in ODDITY Tech Ltd. (NASDAQ:ODD)

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in ODDITY Tech Ltd. (NASDAQ:ODD) by 13.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 255,764 shares of the company’s stock after selling 40,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 0.46% of ODDITY Tech worth $11,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Granahan Investment Management LLC lifted its position in ODDITY Tech by 15.9% during the 4th quarter. Granahan Investment Management LLC now owns 1,538,198 shares of the company’s stock worth $64,635,000 after acquiring an additional 211,485 shares during the period. Bamco Inc. NY lifted its holdings in shares of ODDITY Tech by 14.7% in the 4th quarter. Bamco Inc. NY now owns 1,429,198 shares of the company’s stock valued at $60,055,000 after buying an additional 183,152 shares during the period. Capital International Investors lifted its holdings in shares of ODDITY Tech by 29.5% in the 4th quarter. Capital International Investors now owns 1,365,744 shares of the company’s stock valued at $57,389,000 after buying an additional 311,401 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of ODDITY Tech by 0.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,289,493 shares of the company’s stock valued at $55,783,000 after buying an additional 6,419 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of ODDITY Tech by 71.9% in the 4th quarter. Janus Henderson Group PLC now owns 846,281 shares of the company’s stock valued at $35,539,000 after buying an additional 354,083 shares during the period. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ODD has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price target on ODDITY Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. KeyCorp raised their price target on ODDITY Tech from $65.00 to $90.00 and gave the company an “overweight” rating in a report on Monday. Bank of America raised their price objective on ODDITY Tech from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Barclays raised their price objective on ODDITY Tech from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Truist Financial raised their price objective on ODDITY Tech from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.13.

ODDITY Tech Stock Down 3.1%

Shares of NASDAQ:ODD traded down $2.16 during trading on Friday, hitting $68.65. 33,016 shares of the company traded hands, compared to its average volume of 621,612. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 3.45 and a beta of 3.30. The business’s fifty day moving average is $71.56 and its 200-day moving average is $54.35. ODDITY Tech Ltd. has a one year low of $32.71 and a one year high of $79.18.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.71 million. ODDITY Tech had a return on equity of 30.67% and a net margin of 15.12%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, analysts forecast that ODDITY Tech Ltd. will post 1.62 EPS for the current year.

About ODDITY Tech

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.