Fred Alger Management LLC Has $2.41 Million Stock Position in Oddity Tech Ltd. (NASDAQ:ODD)

Fred Alger Management LLC cut its holdings in Oddity Tech Ltd. (NASDAQ:ODD) by 53.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,638 shares of the company’s stock after selling 67,921 shares during the period. Fred Alger Management LLC owned about 0.10% of Oddity Tech worth $2,408,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in Oddity Tech by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company’s stock valued at $49,996,000 after buying an additional 5,417 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of Oddity Tech by 8.6% in the second quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company’s stock valued at $23,436,000 after acquiring an additional 47,390 shares during the last quarter. Hood River Capital Management LLC bought a new stake in Oddity Tech during the second quarter worth about $23,397,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Oddity Tech by 491.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock worth $11,612,000 after acquiring an additional 245,764 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Oddity Tech during the second quarter valued at approximately $6,744,000. Institutional investors own 35.88% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays upped their price objective on 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Oddity Tech presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

Oddity Tech Stock Up 0.4 %

ODD opened at $46.46 on Monday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.40 and a beta of 4.40. Oddity Tech Ltd. has a 12-month low of $30.34 and a 12-month high of $50.36. The business has a 50 day moving average of $41.14 and a 200-day moving average of $39.61.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $116.47 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. As a group, 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.