Teacher Retirement System of Texas Purchases 6,845 Shares of ODDITY Tech Ltd. (NASDAQ:ODD)

Teacher Retirement System of Texas lifted its stake in ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) by 81.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,287 shares of the company's stock after acquiring an additional 6,845 shares during the period. Teacher Retirement System of Texas' holdings in ODDITY Tech were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ODD. Mark Sheptoff Financial Planning LLC acquired a new position in ODDITY Tech in the 4th quarter valued at approximately $42,000. Wells Fargo & Company MN raised its stake in shares of ODDITY Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after purchasing an additional 449 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in ODDITY Tech in the fourth quarter worth $246,000. PharVision Advisers LLC bought a new position in ODDITY Tech in the fourth quarter worth $299,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in ODDITY Tech during the fourth quarter worth $303,000. Institutional investors and hedge funds own 35.88% of the company's stock.

ODDITY Tech Stock Performance

ODD traded down $1.19 during mid-day trading on Friday, reaching $69.62. The stock had a trading volume of 965,767 shares, compared to its average volume of 625,968. The firm's fifty day simple moving average is $71.53 and its two-hundred day simple moving average is $54.54. The stock has a market capitalization of $3.89 billion, a P/E ratio of 40.01, a P/E/G ratio of 3.30 and a beta of 3.30. ODDITY Tech Ltd. has a 52 week low of $32.71 and a 52 week high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. ODDITY Tech had a net margin of 15.12% and a return on equity of 30.67%. The company had revenue of $268.08 million for the quarter, compared to analyst estimates of $260.71 million. During the same quarter last year, the firm earned $0.61 EPS. The company's revenue for the quarter was up 26.7% on a year-over-year basis. As a group, analysts expect that ODDITY Tech Ltd. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ODD shares. Barclays lifted their target price on shares of ODDITY Tech from $60.00 to $73.00 and gave the company an "equal weight" rating in a research report on Tuesday. Bank of America lifted their price objective on ODDITY Tech from $68.00 to $80.00 and gave the company a "buy" rating in a report on Friday, June 27th. JMP Securities reiterated a "market outperform" rating and issued a $66.00 price objective on shares of ODDITY Tech in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised their target price on ODDITY Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Truist Financial boosted their price target on ODDITY Tech from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, ODDITY Tech currently has a consensus rating of "Moderate Buy" and an average target price of $70.13.

About ODDITY Tech

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.