Allspring Global Investments Holdings LLC Has $50.98 Million Stake in Ulta Beauty Inc. (NASDAQ:ULTA)

Allspring Global Investments Holdings LLC grew its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 1,656.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,344 shares of the specialty retailer's stock after purchasing an additional 128,582 shares during the period. Allspring Global Investments Holdings LLC owned about 0.30% of Ulta Beauty worth $50,980,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ULTA. Prestige Wealth Management Group LLC increased its holdings in shares of Ulta Beauty by 121.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 34 shares during the period. American National Bank & Trust acquired a new position in shares of Ulta Beauty in the 1st quarter valued at about $29,000. Rakuten Securities Inc. increased its holdings in shares of Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after purchasing an additional 59 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 40 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of Ulta Beauty in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Activity

In other news, insider Jodi J. Caro sold 902 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the transaction, the insider now owns 7,632 shares in the company, valued at approximately $2,817,429.12. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ULTA has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on Ulta Beauty from $475.00 to $400.00 and set a "hold" rating on the stock in a report on Friday, March 14th. B. Riley dropped their price objective on Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Evercore ISI increased their price objective on Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Piper Sandler restated a "neutral" rating and issued a $437.00 price objective (up previously from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Finally, The Goldman Sachs Group upgraded Ulta Beauty from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $384.00 to $423.00 in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $462.22.

Ulta Beauty Trading Up 0.1%

ULTA opened at $458.27 on Monday. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $491.98. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.76 and a beta of 1.09. The business has a 50 day moving average of $427.68 and a 200-day moving average of $399.92.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same period in the prior year, the business earned $6.47 earnings per share. Ulta Beauty's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.

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