Ulta Beauty Inc. $ULTA Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Ulta Beauty stake by 23.7% in the second quarter, selling 16,384 shares and retaining 52,756 shares valued at approximately $23.8 million. Institutional investors and hedge funds collectively own 90.39% of the company.
• Analyst sentiment remains favorable, with 24 analysts rating Ulta Beauty a Buy and eight assigning a Hold rating. The stock has a consensus rating of “Moderate Buy” and an average price target of $627.83.
• Ulta Beauty exceeded quarterly expectations, reporting $6.55 in earnings per share and $3.04 billion in revenue, up 8.9% year over year. However, CEO Kecia Steelman and director Lorna Nagler both recently sold shares, while the stock opened at $547.89.

Envestnet Asset Management Inc. cut its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 23.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,756 shares of the specialty retailer's stock after selling 16,384 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Ulta Beauty worth $23,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Ulta Beauty by 1.1% during the second quarter. State Street Corp now owns 2,024,623 shares of the specialty retailer's stock worth $913,064,000 after buying an additional 22,036 shares in the last quarter. Tidal Investments LLC grew its holdings in Ulta Beauty by 34.6% in the 2nd quarter. Tidal Investments LLC now owns 17,553 shares of the specialty retailer's stock valued at $7,916,000 after buying an additional 4,513 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Ulta Beauty by 0.4% in the 2nd quarter. Baird Financial Group Inc. now owns 14,868 shares of the specialty retailer's stock valued at $6,705,000 after buying an additional 60 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Ulta Beauty by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 12,540 shares of the specialty retailer's stock worth $5,655,000 after acquiring an additional 485 shares during the last quarter. Finally, Empirical Finance LLC increased its stake in shares of Ulta Beauty by 3.0% in the 2nd quarter. Empirical Finance LLC now owns 1,798 shares of the specialty retailer's stock worth $811,000 after acquiring an additional 53 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ULTA shares. Royal Bank Of Canada upgraded Ulta Beauty to an "outperform" rating in a report on Tuesday, September 15th. Raymond James Financial cut shares of Ulta Beauty from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, September 15th. Argus set a $550.00 target price on shares of Ulta Beauty in a research note on Thursday, June 18th. Wells Fargo & Company upgraded shares of Ulta Beauty from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $450.00 to $525.00 in a report on Tuesday, September 15th. Finally, Citigroup downgraded shares of Ulta Beauty from a "neutral" rating to a "market perform" rating in a report on Tuesday, September 15th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $627.83.

Insider Transactions at Ulta Beauty

In other Ulta Beauty news, Director Lorna Nagler sold 600 shares of the business's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $537.31, for a total transaction of $322,386.00. Following the sale, the director directly owned 7,168 shares in the company, valued at $3,851,438.08. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kecia Steelman sold 2,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $545.88, for a total transaction of $1,091,760.00. Following the sale, the chief executive officer directly owned 40,489 shares in the company, valued at $22,102,135.32. This represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.20% of the company's stock.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $547.89 on Wednesday. Ulta Beauty Inc. has a fifty-two week low of $443.60 and a fifty-two week high of $714.97. The firm has a 50 day moving average price of $532.52 and a 200 day moving average price of $513.95. The company has a market capitalization of $23.43 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The specialty retailer reported $6.55 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $0.33. Ulta Beauty had a return on equity of 45.40% and a net margin of 9.34%.The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the prior year, the firm earned $5.78 earnings per share. The firm's revenue was up 8.9% compared to the same quarter last year. Ulta Beauty has set its FY 2026 guidance at 28.700-29.000 EPS. As a group, equities research analysts forecast that Ulta Beauty Inc. will post 28.95 earnings per share for the current year.

Ulta Beauty Company Profile

Ulta Beauty, Inc is a specialty beauty retailer that operates stores and an e-commerce platform in the United States. The company offers a broad assortment of prestige and mass-market beauty products, including cosmetics, skincare, haircare products, fragrances, bath and body items, and beauty tools.

In addition to merchandise, Ulta Beauty provides salon services such as hair styling, hair treatments, and related services at many of its locations. Its stores typically combine product retailing with salon operations and may also offer beauty services provided by licensed professionals.

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