Clal Insurance Enterprises Holdings Ltd trimmed its holdings in ODDITY Tech Ltd. (NASDAQ:ODD – Free Report) by 62.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 220,300 shares of the company’s stock after selling 370,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned approximately 0.38% of ODDITY Tech worth $2,948,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after purchasing an additional 1,296,551 shares during the period. Baillie Gifford & Co. increased its position in shares of ODDITY Tech by 17.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares during the last quarter. Morgan Stanley increased its position in shares of ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after purchasing an additional 525,481 shares during the last quarter. Wellington Management Group LLP purchased a new stake in ODDITY Tech in the 3rd quarter valued at about $27,838,000. Finally, Altshuler Shaham Ltd raised its holdings in ODDITY Tech by 364.7% in the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after buying an additional 392,967 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.
Insider Activity
In other news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 77,709 shares in the company, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 valued at $1,932,910.
ODDITY Tech Stock Down 0.4%
ODDITY Tech (NASDAQ:ODD – Get Free Report) last released its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. During the same quarter last year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was down 26.2% on a year-over-year basis. As a group, equities analysts predict that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ODD. Wall Street Zen lowered shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Truist Financial reduced their price target on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, June 3rd. Jefferies Financial Group restated a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a report on Tuesday, June 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group downgraded shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their target price for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $25.39.
Read Our Latest Stock Analysis on ODD
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.
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