ODDITY Tech Ltd. (NASDAQ:ODD – Get Free Report) shares were down 7.5% during mid-day trading on Monday . The company traded as low as $15.99 and last traded at $16.5580. Approximately 175,453 shares were traded during trading, a decline of 91% from the average session volume of 1,918,535 shares. The stock had previously closed at $17.90.
Analyst Ratings Changes
Several analysts have recently commented on ODD shares. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 target price 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. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Barclays decreased their price objective on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Finally, Zacks Research cut shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Eight analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $25.39.
Check Out Our Latest Stock Report on ODDITY Tech
ODDITY Tech Trading Down 3.8%
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). The firm had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The business’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Equities analysts anticipate that ODDITY Tech Ltd. will post -0.46 earnings per share for the current year.
Insiders Place Their Bets
In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the business’s 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 sale, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Over the last ninety days, insiders sold 128,805 shares of company stock valued at $1,932,910.
Institutional Trading of ODDITY Tech
Several hedge funds and other institutional investors have recently modified their holdings of ODD. Janus Henderson Group PLC lifted its stake in shares of ODDITY Tech by 115.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after buying an additional 1,296,551 shares in the last quarter. Baillie Gifford & Co. grew its stake in ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after buying an additional 1,076,921 shares in the last quarter. Morgan Stanley raised its holdings in ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after acquiring an additional 525,481 shares during the period. Wellington Management Group LLP bought a new stake in ODDITY Tech during the 3rd quarter valued at $27,838,000. Finally, Altshuler Shaham Ltd raised its holdings in ODDITY Tech by 364.7% during the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after acquiring an additional 392,967 shares during the period. Institutional investors own 35.88% of the company’s stock.
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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