Oddity Tech Ltd. (NASDAQ:ODD) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its position in Oddity Tech Ltd. (NASDAQ:ODD) by 97.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,176 shares of the company’s stock after selling 931,987 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Oddity Tech were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in Oddity Tech during the 2nd quarter worth $550,000. Bank of New York Mellon Corp grew its holdings in shares of Oddity Tech by 1,303.8% during the second 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 last quarter. ARK Investment Management LLC increased its position in Oddity Tech by 30.5% in the 2nd quarter. ARK Investment Management LLC now owns 64,468 shares of the company’s stock valued at $2,531,000 after acquiring an additional 15,062 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Oddity Tech by 491.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock valued at $11,612,000 after acquiring an additional 245,764 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Oddity Tech by 340.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,003 shares of the company’s stock worth $353,000 after acquiring an additional 6,958 shares during the period. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on Oddity Tech in a report on Friday. They issued a “neutral” rating and a $48.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Barclays raised 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Oddity Tech Stock Performance

Shares of NASDAQ ODD opened at $49.76 on Tuesday. Oddity Tech Ltd. has a one year low of $30.34 and a one year high of $51.00. The firm has a market capitalization of $2.83 billion, a P/E ratio of 30.34, a PEG ratio of 1.49 and a beta of 4.45. The company’s fifty day moving average is $43.04 and its two-hundred day moving average is $40.29.

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