ODDITY Tech (NASDAQ:ODD) Shares Down 6.2% – Should You Sell?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) traded down 6.2% during trading on Wednesday. The company traded as low as $22.33 and last traded at $22.0750. 226,122 shares changed hands during trading, a decline of 86% from the average daily volume of 1,595,368 shares. The stock had previously closed at $23.53.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of ODDITY Tech from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 18th. Citigroup reissued a “market perform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. JPMorgan Chase & Co. started coverage on ODDITY Tech in a research report on Monday, September 21st. They set a “neutral” rating and a $18.00 target price for the company. Zacks Research raised ODDITY Tech from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, Weiss Ratings upgraded ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, ODDITY Tech currently has an average rating of “Reduce” and an average target price of $22.35.

ODDITY Tech Stock Up 4.3%

The company’s 50 day moving average is $17.48 and its 200 day moving average is $15.33. The company has a market cap of $1.34 billion, a PE ratio of 97.29 and a beta of 2.24. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The firm had revenue of $180.52 million during the quarter, compared to the consensus estimate of $178.23 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was down 24.9% on a year-over-year basis. As a group, analysts predict that ODDITY Tech Ltd. will post -0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mann Drucker sold 21,571 shares of ODDITY Tech stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $15.14, for a total transaction of $326,584.94. Following the transaction, the chief financial officer directly owned 104,492 shares of the company’s stock, valued at $1,582,008.88. This trade represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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. Insiders have sold 62,852 shares of company stock worth $938,716 in the last 90 days.

Institutional Trading of ODDITY Tech

Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its holdings in ODDITY Tech by 123.5% in the second quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after purchasing an additional 462,137 shares in the last quarter. Amundi raised its stake in shares of ODDITY Tech by 17.8% during the 1st quarter. Amundi now owns 434,945 shares of the company’s stock worth $5,820,000 after acquiring an additional 65,647 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in ODDITY Tech during the first quarter valued at approximately $3,533,000. Halter Ferguson Financial Inc. purchased a new stake in ODDITY Tech during the first quarter valued at approximately $2,789,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in ODDITY Tech by 32.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company’s stock valued at $1,621,000 after acquiring an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a consumer technology company that develops and operates beauty and wellness brands through a digitally native, direct-to-consumer business model. The company uses data science, artificial intelligence and proprietary technology to develop products, personalize recommendations and support online customer experiences.

Its portfolio includes IL MAKIAGE, a makeup brand offering products such as foundation, concealer and other cosmetics, and SpoiledChild, a beauty brand focused primarily on haircare and skincare products.