Legal Advantage Investments Inc. Decreases Stock Holdings in Ulta Beauty Inc. $ULTA

Legal Advantage Investments Inc. decreased its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,535 shares of the specialty retailer’s stock after selling 150 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Ulta Beauty were worth $1,654,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ULTA. Wayfinding Financial LLC purchased a new position in shares of Ulta Beauty in the first quarter valued at about $31,000. Hemington Wealth Management increased its position in shares of Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 40 shares during the period. Rakuten Securities Inc. increased its position in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. increased its position in shares of Ulta Beauty by 71.4% in the first 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 period. Finally, Ransom Advisory Ltd purchased a new position in shares of Ulta Beauty in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the sale, the director owned 2,263 shares in the company, valued at $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Ulta Beauty Price Performance

NASDAQ:ULTA opened at $549.28 on Friday. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $572.23. The company’s 50-day simple moving average is $528.22 and its 200 day simple moving average is $464.56. The firm has a market capitalization of $24.63 billion, a P/E ratio of 21.06, a PEG ratio of 3.02 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted $5.30 earnings per share. Ulta Beauty’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ULTA. Argus upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price target on the stock in a research report on Thursday, September 25th. Morgan Stanley boosted their price target on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. UBS Group boosted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty from $525.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Finally, DA Davidson boosted their price target on shares of Ulta Beauty from $585.00 to $625.00 and gave the company a “buy” rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $549.33.

Ulta Beauty 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.