ODDITY Tech (NASDAQ:ODD) Stock Price Down 7.6% – Time to Sell?

ODDITY Tech Ltd. (NASDAQ:ODD)’s share price traded down 7.6% during mid-day trading on Thursday . The stock traded as low as $15.19 and last traded at $15.1370. 124,235 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,814,387 shares. The stock had previously closed at $16.38.

Wall Street Analysts Forecast Growth

ODD has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Zacks Research downgraded shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Truist Financial dropped their target price on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Finally, Wall Street Zen cut ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Eight analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, ODDITY Tech has a consensus rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Stock Performance

The firm has a 50 day moving average of $13.80 and a 200-day moving average of $18.84. The company has a market cap of $883.20 million, a P/E ratio of 19.42 and a beta of 2.37. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The firm had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period last year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was down 26.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.

Insider Activity at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the transaction, the chief financial officer owned 77,709 shares in the company, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 sold a total of 128,805 shares of company stock worth $1,932,910 in the last 90 days.

Institutional Trading of ODDITY Tech

Hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in shares of ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares during the period. Peregrine Capital Management LLC increased its holdings in ODDITY Tech by 31.2% during the fourth quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock valued at $7,654,000 after buying an additional 45,253 shares during the period. Halter Ferguson Financial Inc. purchased a new position in ODDITY Tech during the first quarter valued at approximately $2,789,000. Sparta 24 Ltd. purchased a new position in ODDITY Tech during the first quarter valued at approximately $1,082,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in ODDITY Tech by 110.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company’s stock worth $23,718,000 after buying an additional 310,000 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.