Allspring Global Investments Holdings LLC Buys New Shares in ODDITY Tech Ltd. (NASDAQ:ODD)

Allspring Global Investments Holdings LLC acquired a new position in ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 90,248 shares of the company's stock, valued at approximately $3,904,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of ODDITY Tech at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in ODDITY Tech in the 1st quarter worth $400,000. Woodline Partners LP bought a new stake in shares of ODDITY Tech in the 4th quarter worth about $5,460,000. Penn Capital Management Company LLC bought a new stake in shares of ODDITY Tech in the 4th quarter worth about $8,690,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of ODDITY Tech in the 4th quarter worth about $329,000. Finally, Wells Fargo & Company MN increased its position in shares of ODDITY Tech by 17.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after purchasing an additional 449 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ODD. Truist Financial boosted their price objective on shares of ODDITY Tech from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and set a $66.00 price objective on shares of ODDITY Tech in a research report on Tuesday, April 22nd. Bank of America boosted their price objective on shares of ODDITY Tech from $68.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group boosted their price objective on shares of ODDITY Tech from $47.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, KeyCorp reduced their target price on shares of ODDITY Tech from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.75.

ODDITY Tech Stock Performance

Shares of NASDAQ:ODD traded down $2.58 during trading on Thursday, reaching $73.19. The company had a trading volume of 511,710 shares, compared to its average volume of 603,813. The firm's fifty day moving average is $70.73 and its 200 day moving average is $53.18. The firm has a market capitalization of $4.09 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 3.45 and a beta of 3.30. ODDITY Tech Ltd. has a twelve month low of $32.71 and a twelve month high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. ODDITY Tech had a net margin of 15.12% and a return on equity of 30.67%. The business had revenue of $268.08 million during the quarter, compared to analyst estimates of $260.71 million. During the same period in the prior year, the business earned $0.61 earnings per share. The business's quarterly revenue was up 26.7% on a year-over-year basis. Equities analysts predict that ODDITY Tech Ltd. will post 1.62 earnings per share for the current fiscal year.

About ODDITY Tech

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.