Oppenheimer & Co. Inc. Sells 7,068 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

Oppenheimer & Co. Inc. lessened its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 66.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,519 shares of the specialty retailer's stock after selling 7,068 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Ulta Beauty were worth $1,290,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Prestige Wealth Management Group LLC lifted its position in Ulta Beauty by 121.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock worth $27,000 after buying an additional 34 shares during the last quarter. American National Bank & Trust bought a new stake in Ulta Beauty in the 1st quarter worth approximately $29,000. Rakuten Securities Inc. lifted its position in Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after buying an additional 59 shares during the last quarter. North Star Investment Management Corp. lifted its position in Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after buying an additional 40 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Ulta Beauty in the 1st quarter worth approximately $37,000. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Up 0.1%

NASDAQ:ULTA opened at $458.27 on Friday. The company has a fifty day simple moving average of $427.68 and a two-hundred day simple moving average of $400.09. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $491.98.

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

Insider Activity

In related news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now directly owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

ULTA has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on Ulta Beauty from $510.00 to $542.00 and gave the company a "buy" rating in a research report on Friday, May 30th. The Goldman Sachs Group upgraded Ulta Beauty from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $384.00 to $423.00 in a research report on Tuesday, April 1st. Stifel Nicolaus lowered their price objective on Ulta Beauty from $475.00 to $400.00 and set a "hold" rating for the company in a research report on Friday, March 14th. UBS Group boosted their price objective on Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Wall Street Zen upgraded Ulta Beauty from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Ulta Beauty has an average rating of "Moderate Buy" and an average target price of $462.22.

Ulta Beauty 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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