Stock Traders Purchase High Volume of Call Options on ODDITY Tech (NASDAQ:ODD)

ODDITY Tech Ltd. (NASDAQ:ODD) saw unusually large options trading activity on Wednesday. Stock traders purchased 9,433 call options on the company. This is an increase of 376% compared to the average daily volume of 1,981 call options.

Analyst Upgrades and Downgrades

ODD has been the topic of several recent analyst reports. Zacks Research cut ODDITY Tech from a “hold” rating to a “strong sell” rating in a research report on Monday. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Barclays decreased their target price on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. The Goldman Sachs Group lowered ODDITY Tech from a “hold” rating to a “sell” rating and cut their price target for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Finally, Morgan Stanley reduced their price target on 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. Eight analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $25.39.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the sale, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This represents a 58.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 128,805 shares of company stock worth $1,932,910 in the last 90 days.

Institutional Investors Weigh In On ODDITY Tech

A number of large investors have recently modified their holdings of the business. TD Asset Management Inc increased its holdings in shares of ODDITY Tech by 7.7% in the third quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock valued at $413,000 after purchasing an additional 476 shares during the period. Wexford Capital LP purchased a new position in shares of ODDITY Tech during the 3rd quarter valued at approximately $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ODDITY Tech by 134.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares during the period. USS Investment Management Ltd boosted its position in 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 purchasing an additional 695 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of ODDITY Tech by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock valued at $1,749,000 after buying an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Trading Up 10.6%

Shares of NASDAQ:ODD traded up $1.61 during trading on Wednesday, reaching $16.74. The company’s stock had a trading volume of 915,598 shares, compared to its average volume of 1,929,879. The stock has a market capitalization of $963.95 million, a PE ratio of 21.19 and a beta of 2.47. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The firm’s 50 day simple moving average is $13.02 and its two-hundred day simple moving average is $21.85. ODDITY Tech has a 12 month low of $9.25 and a 12 month high of $77.83.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The firm had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the business earned $0.69 EPS. The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. On average, research analysts predict that ODDITY Tech will post -0.46 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.