Optimal Asset Management Inc. Reduces Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Optimal Asset Management Inc. lessened its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 59.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,630 shares of the specialty retailer’s stock after selling 3,900 shares during the quarter. Optimal Asset Management Inc.’s holdings in Ulta Beauty were worth $813,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Institute for Wealth Management LLC. grew its stake in Ulta Beauty by 3.2% during the 1st quarter. Institute for Wealth Management LLC. now owns 1,079 shares of the specialty retailer’s stock worth $334,000 after buying an additional 33 shares during the last quarter. Whittier Trust Co. grew its stake in Ulta Beauty by 38.6% during the 1st quarter. Whittier Trust Co. now owns 140 shares of the specialty retailer’s stock worth $43,000 after buying an additional 39 shares during the last quarter. CIBC World Markets Inc. grew its stake in Ulta Beauty by 0.6% during the 1st quarter. CIBC World Markets Inc. now owns 6,447 shares of the specialty retailer’s stock worth $1,993,000 after buying an additional 39 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Ulta Beauty by 18.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 281 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 44 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of Ulta Beauty by 1.7% in the 1st quarter. Raymond James Trust N.A. now owns 2,883 shares of the specialty retailer’s stock valued at $891,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.

In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 595 shares of the company’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $330.30, for a total transaction of $196,528.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey J. Childs sold 4,863 shares of the company’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $334.30, for a total value of $1,625,700.90. Following the sale, the insider now owns 10,265 shares in the company, valued at approximately $3,431,589.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,121 shares of company stock worth $28,410,069. Insiders own 3.10% of the company’s stock.

Several research analysts have weighed in on ULTA shares. Morgan Stanley lifted their target price on Ulta Beauty from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 1st. Loop Capital lifted their price target on Ulta Beauty from $320.00 to $340.00 and gave the company a “hold” rating in a research note on Friday, May 28th. Raymond James upgraded Ulta Beauty from a “market perform” rating to an “outperform” rating and set a $395.00 price target on the stock in a research note on Tuesday, July 13th. UBS Group lifted their price target on Ulta Beauty from $360.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, May 17th. Finally, Telsey Advisory Group lifted their price target on Ulta Beauty from $375.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 28th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $343.52.

Shares of NASDAQ ULTA opened at $341.65 on Thursday. Ulta Beauty, Inc. has a 1-year low of $188.18 and a 1-year high of $356.31. The stock has a 50-day moving average of $334.95. The stock has a market capitalization of $18.71 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.71.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Wednesday, May 26th. The specialty retailer reported $4.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $2.18. Ulta Beauty had a return on equity of 29.86% and a net margin of 7.01%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the business earned ($1.39) earnings per share. The company’s revenue was up 65.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ulta Beauty, Inc. will post 12.17 earnings per share for the current year.

About Ulta Beauty

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.

Read More: What is Cost of Goods Sold (COGS)?

Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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