Rice Hall James & Associates LLC Makes New $3.53 Million Investment in ODDITY Tech Ltd. $ODD

Rice Hall James & Associates LLC purchased a new position in shares of ODDITY Tech Ltd. (NASDAQ:ODD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 264,020 shares of the company’s stock, valued at approximately $3,533,000. Rice Hall James & Associates LLC owned approximately 0.46% of ODDITY Tech at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ODD. Janus Henderson Group PLC increased its position in shares of ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after acquiring an additional 1,296,551 shares during the last quarter. Baillie Gifford & Co. raised its holdings in ODDITY Tech by 17.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after acquiring an additional 1,076,921 shares in the last quarter. Morgan Stanley boosted its position in ODDITY Tech by 13.9% during the fourth 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 acquired a new position in ODDITY Tech during the third quarter valued at approximately $27,838,000. Finally, Altshuler Shaham Ltd boosted its position in ODDITY Tech by 364.7% during the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after purchasing an additional 392,967 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ODD has been the topic of several recent analyst reports. Wall Street Zen lowered ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Jefferies Financial Group reissued a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a report on Tuesday, June 2nd. Zacks Research cut shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Finally, Truist Financial lowered their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $25.39.

Insiders Place Their Bets

In other ODDITY Tech 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 completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This trade represents a 58.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. In the last quarter, insiders sold 128,805 shares of company stock valued at $1,932,910.

ODDITY Tech Price Performance

NASDAQ:ODD opened at $15.34 on Monday. 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’s 50 day moving average price is $13.80 and its two-hundred day moving average price is $18.70. The firm has a market capitalization of $883.28 million, a price-to-earnings ratio of 19.42 and a beta of 2.37. ODDITY Tech Ltd. has a 12-month low of $9.25 and a 12-month high of $75.45.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.17) 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 business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s revenue was down 26.2% compared to the same quarter last year. On average, analysts anticipate that ODDITY Tech Ltd. will post -0.55 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.