KLP Kapitalforvaltning AS Acquires 6,400 Shares of ODDITY Tech Ltd. (NASDAQ:ODD)

Key Points

• KLP Kapitalforvaltning AS significantly increased its stake in ODDITY Tech Ltd. by 88.9%, owning 13,600 shares valued at $588,000 after purchasing an additional 6,400 shares.
• Wall Street analysts have raised their price targets for ODDITY Tech, with estimates now ranging from $52.00 to $90.00, and a consensus rating of "Moderate Buy".
• ODDITY Tech's recent earnings report revealed a 26.7% year-over-year revenue increase, beating expectations with $0.69 EPS compared to an anticipated $0.63 EPS.

KLP Kapitalforvaltning AS boosted its position in ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) by 88.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,600 shares of the company's stock after buying an additional 6,400 shares during the quarter. KLP Kapitalforvaltning AS's holdings in ODDITY Tech were worth $588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in ODDITY Tech by 17.6% in the fourth 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 period. PharVision Advisers LLC acquired a new stake in ODDITY Tech in the fourth quarter worth approximately $299,000. Blue Trust Inc. lifted its position in ODDITY Tech by 15.4% in the first quarter. Blue Trust Inc. now owns 7,573 shares of the company's stock worth $328,000 after purchasing an additional 1,008 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in ODDITY Tech in the fourth quarter worth approximately $329,000. Finally, Teacher Retirement System of Texas acquired a new stake in ODDITY Tech in the fourth quarter worth approximately $355,000. 35.88% of the stock is owned by institutional investors.

ODDITY Tech Trading Up 2.3%

Shares of ODDITY Tech stock traded up $1.63 during midday trading on Friday, reaching $71.70. The company had a trading volume of 2,086,241 shares, compared to its average volume of 833,780. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 3.23 and a beta of 3.30. The stock has a fifty day simple moving average of $72.41 and a 200 day simple moving average of $56.17. ODDITY Tech Ltd. has a 1-year low of $32.71 and a 1-year high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.06. The company had revenue of $268.08 million for the quarter, compared to analysts' expectations of $260.71 million. ODDITY Tech had a net margin of 15.12% and a return on equity of 30.67%. The business's quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Sell-side analysts expect that ODDITY Tech Ltd. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ODD shares. KeyCorp increased their price objective on ODDITY Tech from $65.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on ODDITY Tech from $63.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. JMP Securities reiterated a "market outperform" rating and set a $66.00 price objective on shares of ODDITY Tech in a research report on Tuesday, April 22nd. Truist Financial increased their price objective on ODDITY Tech from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Bank of America increased their price objective on ODDITY Tech from $68.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.75.

ODDITY Tech Company 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.