Octavia Wealth Advisors LLC Sells 405 Shares of Ulta Beauty Inc. $ULTA

Octavia Wealth Advisors LLC lowered its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 43.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 519 shares of the specialty retailer’s stock after selling 405 shares during the period. Octavia Wealth Advisors LLC’s holdings in Ulta Beauty were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Ulta Beauty by 17.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer’s stock valued at $2,190,000 after acquiring an additional 924 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Ulta Beauty by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer’s stock valued at $435,000 after purchasing an additional 152 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Ulta Beauty during the first quarter valued at about $201,000. Farther Finance Advisors LLC increased its holdings in shares of Ulta Beauty by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer’s stock worth $275,000 after purchasing an additional 415 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC purchased a new stake in shares of Ulta Beauty in the first quarter worth about $250,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In related news, Director Mike C. Smith sold 500 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director directly owned 2,263 shares of the company’s stock, valued at $1,195,837.09. This represents a 18.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ULTA. Argus upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price target for the company in a report on Thursday. Piper Sandler initiated coverage on Ulta Beauty in a report on Thursday, September 4th. They set an “overweight” rating and a $590.00 price objective on the stock. Oppenheimer raised their target price on shares of Ulta Beauty from $510.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Wells Fargo & Company boosted their price target on shares of Ulta Beauty from $400.00 to $425.00 and gave the stock an “underweight” rating in a research report on Friday, August 29th. Finally, Citigroup upped their price target on shares of Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.20.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $539.48 on Friday. The stock’s fifty day moving average is $517.83 and its 200 day moving average is $448.02. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $540.19. The firm has a market capitalization of $24.19 billion, a PE ratio of 20.69, a PEG ratio of 2.95 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted $5.30 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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.