Wellington Management Group LLP Lowers Holdings in Oddity Tech Ltd. (NASDAQ:ODD)

Wellington Management Group LLP decreased its position in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) by 60.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,002 shares of the company's stock after selling 182,275 shares during the period. Wellington Management Group LLP owned approximately 0.21% of Oddity Tech worth $4,916,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in Oddity Tech by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 25,838 shares of the company's stock worth $1,086,000 after purchasing an additional 273 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Oddity Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after acquiring an additional 449 shares during the period. California State Teachers Retirement System boosted its holdings in Oddity Tech by 1.7% during the 4th quarter. California State Teachers Retirement System now owns 31,401 shares of the company's stock valued at $1,319,000 after acquiring an additional 511 shares during the period. American Century Companies Inc. increased its stake in Oddity Tech by 5.1% in the 4th quarter. American Century Companies Inc. now owns 12,334 shares of the company's stock worth $518,000 after purchasing an additional 593 shares during the period. Finally, Geode Capital Management LLC increased its stake in Oddity Tech by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 64,440 shares of the company's stock worth $2,708,000 after purchasing an additional 815 shares during the period. Institutional investors own 35.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Oddity Tech from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Oddity Tech from $63.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday. Barclays increased their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. KeyCorp reduced their price target on Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $66.00 price target on shares of Oddity Tech in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.00.

Oddity Tech Trading Down 0.2%

Oddity Tech stock traded down $0.18 during trading hours on Thursday, hitting $77.09. 1,057,103 shares of the stock traded hands, compared to its average volume of 570,783. Oddity Tech Ltd. has a one year low of $32.71 and a one year high of $79.18. The firm's 50-day moving average price is $55.52 and its two-hundred day moving average price is $48.47. The company has a market cap of $4.30 billion, a PE ratio of 47.01, a PEG ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. The company had revenue of $268.08 million for the quarter, compared to analysts' expectations of $260.71 million. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The firm's revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, sell-side analysts expect that Oddity Tech Ltd. will post 1.62 earnings per share for the current fiscal year.

Oddity Tech Company 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.