Assenagon Asset Management S.A. Decreases Stock Holdings in Ulta Beauty Inc. $ULTA

Key Points

• Assenagon Asset Management S.A. has significantly reduced its stake in Ulta Beauty Inc. by 70.2%, now holding 19,282 shares valued at approximately $9 million.
• Ulta Beauty recently reported earnings per share of $5.78, surpassing expectations, with a revenue of $2.79 billion for the quarter, indicating a 9.3% year-over-year increase.
• Multiple analysts maintain a positive outlook on Ulta Beauty, with several raising their price targets; the average consensus is $543.13, with most analysts rating the stock as a "Moderate Buy."

Assenagon Asset Management S.A. cut its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 70.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,282 shares of the specialty retailer's stock after selling 45,393 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ulta Beauty were worth $9,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American National Bank & Trust acquired a new stake in Ulta Beauty during the first quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Ulta Beauty in the 1st quarter valued at approximately $31,000. Rakuten Securities Inc. raised its position in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 59 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 40 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in Ulta Beauty during the first quarter worth $36,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $524.60 on Wednesday. The stock has a 50-day simple moving average of $515.83 and a 200 day simple moving average of $446.13. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $539.00. The stock has a market capitalization of $23.52 billion, a PE ratio of 20.12, a P/E/G ratio of 2.85 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the company earned $5.30 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cowen reaffirmed a "hold" rating on shares of Ulta Beauty in a research report on Friday, August 29th. The Goldman Sachs Group raised their price target on Ulta Beauty from $530.00 to $584.00 and gave the stock a "buy" rating in a report on Friday, August 29th. UBS Group upped their price objective on Ulta Beauty from $640.00 to $680.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Telsey Advisory Group reiterated an "outperform" rating and issued a $610.00 target price on shares of Ulta Beauty in a research note on Monday, September 8th. Finally, Robert W. Baird boosted their price target on shares of Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $543.13.

Insider Activity

In related news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares of the company's stock, valued at $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

About Ulta Beauty

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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