Sparta 24 Ltd. Makes New $1.08 Million Investment in ODDITY Tech Ltd. $ODD

Key Points

• Sparta 24 Ltd. opened a new position in ODDITY Tech during the first quarter, buying 80,883 shares valued at about $1.08 million. The stake represents roughly 1.2% of Sparta 24’s portfolio and about 0.14% of ODDITY Tech.
• Institutional ownership activity was mixed but generally positive, with several funds raising their holdings; overall, 35.88% of the stock is owned by institutional investors.
• Analysts remain cautious on ODDITY Tech, with multiple downgrades and a consensus rating of “Reduce”. The company also reported a quarterly EPS miss and year-over-year revenue decline, though revenue topped expectations.

Sparta 24 Ltd. acquired a new position in shares of ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 80,883 shares of the company's stock, valued at approximately $1,082,000. ODDITY Tech makes up about 1.2% of Sparta 24 Ltd.'s investment portfolio, making the stock its 8th biggest holding. Sparta 24 Ltd. owned approximately 0.14% of ODDITY Tech as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sigma Planning Corp lifted its position in ODDITY Tech by 52.0% in the first quarter. Sigma Planning Corp now owns 10,535 shares of the company's stock worth $141,000 after purchasing an additional 3,605 shares during the period. J. Safra Sarasin Holding AG boosted its stake in ODDITY Tech by 132.6% during the first quarter. J. Safra Sarasin Holding AG now owns 20,000 shares of the company's stock worth $268,000 after buying an additional 11,400 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in ODDITY Tech by 32.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company's stock valued at $1,621,000 after buying an additional 30,000 shares during the period. Halter Ferguson Financial Inc. bought a new stake in ODDITY Tech in the 1st quarter valued at $2,789,000. Finally, Conestoga Capital Advisors LLC raised its stake in shares of ODDITY Tech by 221.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 97,620 shares of the company's stock valued at $1,306,000 after buying an additional 67,285 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of ODDITY Tech from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Needham & Company LLC reissued a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. KeyCorp reissued a "sector weight" rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Truist Financial cut their price target on shares of ODDITY Tech from $18.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group downgraded ODDITY Tech from a "hold" rating to a "sell" rating and decreased their price objective for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $25.39.

Insiders Place Their Bets

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company's stock, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 128,805 shares of company stock worth $1,932,910 over the last quarter.

ODDITY Tech Stock Down 0.1%

ODD opened at $16.33 on Friday. The firm's 50-day simple moving average is $13.50 and its 200-day simple moving average is $19.69. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. ODDITY Tech Ltd. has a twelve month low of $9.25 and a twelve month high of $75.45. The firm has a market cap of $940.20 million, a price-to-earnings ratio of 20.67 and a beta of 2.37.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company's revenue for the quarter was down 26.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. Equities research analysts anticipate that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.

ODDITY Tech 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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