Renaissance Technologies LLC Reduces Position in ODDITY Tech Ltd. $ODD

Renaissance Technologies LLC decreased its holdings in ODDITY Tech Ltd. (NASDAQ:ODD) by 88.2% in the first quarter, Holdings Channel reports. The fund owned 48,800 shares of the company’s stock after selling 366,100 shares during the period. Renaissance Technologies LLC’s holdings in ODDITY Tech were worth $653,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ODD. Janus Henderson Group PLC boosted its stake in ODDITY Tech by 115.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after buying an additional 1,296,551 shares during the last quarter. Morgan Stanley boosted its holdings in ODDITY Tech by 13.9% in the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after purchasing an additional 525,481 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of ODDITY Tech in the 3rd quarter valued at approximately $27,838,000. Altshuler Shaham Ltd grew its stake in shares of ODDITY Tech by 364.7% in the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after buying an additional 392,967 shares during the period. Finally, Amundi acquired a new stake in shares of ODDITY Tech during the 4th quarter worth approximately $14,838,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research raised ODDITY Tech from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Truist Financial lowered their price objective on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $10.25 target price on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Nine analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $25.39.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 11,473 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $15.10, for a total transaction of $173,242.30. Following the transaction, the chief financial officer owned 104,492 shares of the company’s stock, valued at $1,577,829.20. This trade represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 130,678 shares of company stock worth $1,956,201 in the last three months.

ODDITY Tech Stock Performance

Shares of ODD opened at $13.11 on Monday. The company has a market capitalization of $754.87 million, a price-to-earnings ratio of 16.59 and a beta of 2.38. ODDITY Tech Ltd. has a 52-week low of $9.25 and a 52-week high of $64.23. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average price of $14.53 and a 200 day moving average price of $16.44.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings data 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). The company had revenue of $197.94 million for 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 firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Research analysts predict that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.

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.