16,553 Shares in Ulta Beauty Inc. $ULTA Acquired by Night Squared LP

Key Points

• Night Squared LP has acquired 16,553 shares of Ulta Beauty, valued around $6,067,000, representing 3.6% of their portfolio, making it the fund's 9th largest holding.
• Several institutional investors, including American National Bank & Trust and Wayfinding Financial LLC, have also recently invested in Ulta Beauty, contributing to a total institutional ownership of 90.39%.
• Analyst price targets for Ulta Beauty vary, with Canaccord Genuity setting a target of $650.00 and UBS Group raising theirs to $680.00, while the consensus rating remains a "Hold" with a target of $534.75.

Night Squared LP purchased a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,553 shares of the specialty retailer's stock, valued at approximately $6,067,000. Ulta Beauty accounts for about 3.6% of Night Squared LP's investment portfolio, making the stock its 9th largest position.

A number of other hedge funds have also recently bought and sold shares of the stock. Vident Advisory LLC boosted its holdings in Ulta Beauty by 57.2% in the 1st quarter. Vident Advisory LLC now owns 1,823 shares of the specialty retailer's stock valued at $668,000 after purchasing an additional 663 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Ulta Beauty by 178.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 100,518 shares of the specialty retailer's stock worth $36,844,000 after acquiring an additional 64,381 shares during the period. GKV Capital Management Co. Inc. lifted its holdings in shares of Ulta Beauty by 7.5% during the 1st quarter. GKV Capital Management Co. Inc. now owns 720 shares of the specialty retailer's stock worth $264,000 after acquiring an additional 50 shares during the period. Trexquant Investment LP bought a new position in shares of Ulta Beauty during the 1st quarter worth about $9,683,000. Finally, Lansforsakringar Fondforvaltning AB publ lifted its holdings in shares of Ulta Beauty by 1.0% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 15,243 shares of the specialty retailer's stock worth $5,587,000 after acquiring an additional 148 shares during the period. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ULTA. Raymond James Financial reaffirmed an "outperform" rating and set a $605.00 price objective (up from $580.00) on shares of Ulta Beauty in a report on Friday. Cowen reaffirmed a "hold" rating on shares of Ulta Beauty in a report on Friday. Loop Capital reissued a "hold" rating and set a $510.00 price target on shares of Ulta Beauty in a report on Friday, July 25th. Barclays lifted their price target on shares of Ulta Beauty from $589.00 to $617.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Oppenheimer raised their price objective on shares of Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ulta Beauty currently has an average rating of "Hold" and a consensus price target of $536.75.

Ulta Beauty Trading Up 8.1%

Shares of NASDAQ:ULTA traded up $39.79 during trading on Tuesday, hitting $532.52. 2,198,905 shares of the company's stock were exchanged, compared to its average volume of 758,975. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $538.59. The firm has a 50-day moving average price of $499.42 and a two-hundred day moving average price of $428.49. The firm has a market cap of $23.88 billion, a P/E ratio of 18.89, a PEG ratio of 2.88 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, topping 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 company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the previous year, the company earned $5.30 EPS. Ulta Beauty's revenue was up 9.3% on a year-over-year basis. As a group, research 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.