Y Intercept Hong Kong Ltd Trims Position in ODDITY Tech Ltd. $ODD

Y Intercept Hong Kong Ltd trimmed its position in shares of ODDITY Tech Ltd. (NASDAQ:ODD) by 73.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,966 shares of the company’s stock after selling 30,407 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ODDITY Tech were worth $147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Conestoga Capital Advisors LLC boosted its holdings in ODDITY Tech by 221.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 97,620 shares of the company’s stock worth $1,306,000 after buying an additional 67,285 shares during the period. USS Investment Management Ltd raised its holdings in ODDITY Tech by 6.4% during the first quarter. USS Investment Management Ltd now owns 14,633 shares of the company’s stock valued at $196,000 after acquiring an additional 880 shares during the period. Blue Trust Inc. raised its holdings in ODDITY Tech by 14.9% during the first quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after acquiring an additional 1,470 shares during the period. SG Americas Securities LLC purchased a new position in shares of ODDITY Tech in the first quarter valued at about $104,000. Finally, Invesco Ltd. lifted its position in shares of ODDITY Tech by 67.3% in the fourth quarter. Invesco Ltd. now owns 6,617 shares of the company’s stock valued at $266,000 after acquiring an additional 2,661 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. The trade was a 58.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 128,805 shares of company stock worth $1,932,910.

ODDITY Tech Stock Up 6.6%

ODD opened at $17.43 on Thursday. The company has a market capitalization of $1.00 billion, a PE ratio of 22.06 and a beta of 2.37. The firm has a 50-day simple moving average of $13.44 and a two-hundred day simple moving average of $19.90. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. ODDITY Tech Ltd. has a 52 week low of $9.25 and a 52 week high of $76.00.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. Analysts forecast that ODDITY Tech Ltd. will post -0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ODD has been the subject of several research analyst reports. Morgan Stanley cut their target price on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Truist Financial lowered their price target on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, June 3rd. Barclays dropped their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $10.25 price objective on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Wall Street Zen cut shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Eight analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, ODDITY Tech currently has a consensus rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Company 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.