Fmr LLC Trims Stake in Oddity Tech Ltd. (NASDAQ:ODD)

Fmr LLC lessened its position in Oddity Tech Ltd. (NASDAQ:ODD) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,929,946 shares of the company’s stock after selling 37,070 shares during the quarter. Fmr LLC owned 0.07% of Oddity Tech worth $158,691,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Oddity Tech by 37.1% during the 1st quarter. California State Teachers Retirement System now owns 21,538 shares of the company’s stock valued at $936,000 after acquiring an additional 5,826 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Oddity Tech in the second quarter worth about $1,021,000. Catalyst Capital Advisors LLC purchased a new position in Oddity Tech in the 2nd quarter worth about $550,000. Bank of New York Mellon Corp increased its stake in Oddity Tech by 1,303.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 145,196 shares of the company’s stock worth $5,700,000 after buying an additional 134,853 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in Oddity Tech by 30.5% during the 2nd quarter. ARK Investment Management LLC now owns 64,468 shares of the company’s stock valued at $2,531,000 after buying an additional 15,062 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays upped their target price on shares of Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.33.

Oddity Tech Price Performance

Shares of Oddity Tech stock opened at $44.84 on Wednesday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.35 and a beta of 4.45. The firm’s 50-day moving average is $41.34 and its two-hundred day moving average is $39.59. Oddity Tech Ltd. has a 1 year low of $30.34 and a 1 year high of $50.36.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. On average, equities analysts expect that Oddity Tech Ltd. will post 1.64 earnings per share for the current year.

Oddity Tech 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.