Strategic Global Advisors LLC Acquires New Position in ODDITY Tech Ltd. $ODD

Strategic Global Advisors LLC bought a new position in shares of ODDITY Tech Ltd. (NASDAQ:ODD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,320 shares of the company’s stock, valued at approximately $2,102,000. Strategic Global Advisors LLC owned about 0.09% of ODDITY Tech at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. USS Investment Management Ltd grew its holdings in shares of ODDITY Tech by 5.3% during the fourth quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock worth $552,000 after buying an additional 695 shares in the last quarter. Venture Visionary Partners LLC purchased a new position in ODDITY Tech during the fourth quarter worth approximately $2,454,000. Mariner LLC raised its stake in ODDITY Tech by 101.5% during the fourth quarter. Mariner LLC now owns 13,828 shares of the company’s stock worth $556,000 after purchasing an additional 6,964 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ODDITY Tech during the fourth quarter worth approximately $2,316,000. Finally, Barclays PLC grew its stake in ODDITY Tech by 452.3% during the fourth quarter. Barclays PLC now owns 304,506 shares of the company’s stock worth $12,235,000 after buying an additional 249,374 shares during the period. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Mann Lindsay Drucker sold 9,604 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total transaction of $123,411.40. Following the transaction, the chief financial officer owned 49,054 shares of the company’s stock, valued at approximately $630,343.90. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 28,807 shares of company stock worth $402,428 over the last 90 days.

ODDITY Tech Stock Performance

NASDAQ:ODD opened at $11.72 on Monday. ODDITY Tech Ltd. has a twelve month low of $9.25 and a twelve month high of $77.83. The company has a 50-day moving average of $13.42 and a 200-day moving average of $24.44. The firm has a market cap of $674.84 million, a price-to-earnings ratio of 14.84 and a beta of 2.48. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96.

ODDITY Tech (NASDAQ:ODD) last announced its earnings results on Tuesday, June 2nd. The company reported ($0.17) 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 analyst estimates 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 quarter in the previous year, the business earned $0.69 earnings per share. Analysts forecast that ODDITY Tech Ltd. will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ODD shares. Bank of America downgraded shares of ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research note on Thursday, February 26th. 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. The Goldman Sachs Group cut shares of ODDITY Tech from a “hold” rating to a “sell” rating and decreased their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Citizens Jmp cut shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Morgan Stanley decreased their price objective on shares of 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. Nine investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average 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.