Woodline Partners LP Invests $5.46 Million in Oddity Tech Ltd. (NASDAQ:ODD)

Woodline Partners LP acquired a new position in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 129,931 shares of the company's stock, valued at approximately $5,460,000. Woodline Partners LP owned about 0.23% of Oddity Tech as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Granahan Investment Management LLC lifted its stake in Oddity Tech by 15.9% in the fourth quarter. Granahan Investment Management LLC now owns 1,538,198 shares of the company's stock worth $64,635,000 after purchasing an additional 211,485 shares during the last quarter. Bamco Inc. NY increased its position in shares of Oddity Tech by 14.7% during the fourth quarter. Bamco Inc. NY now owns 1,429,198 shares of the company's stock valued at $60,055,000 after buying an additional 183,152 shares during the period. Capital International Investors increased its position in shares of Oddity Tech by 29.5% during the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company's stock valued at $57,389,000 after buying an additional 311,401 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Oddity Tech by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,283,074 shares of the company's stock valued at $53,915,000 after buying an additional 11,716 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Oddity Tech by 71.9% during the fourth quarter. Janus Henderson Group PLC now owns 846,281 shares of the company's stock valued at $35,539,000 after buying an additional 354,083 shares during the period. 35.88% of the stock is owned by institutional investors.

Oddity Tech Stock Performance

Shares of NASDAQ:ODD traded up $0.43 during trading on Thursday, reaching $72.65. 182,523 shares of the stock traded hands, compared to its average volume of 559,376. The stock has a 50-day moving average of $52.38 and a two-hundred day moving average of $47.38. Oddity Tech Ltd. has a 52-week low of $32.71 and a 52-week high of $73.77. The stock has a market cap of $4.06 billion, a P/E ratio of 44.17, a price-to-earnings-growth ratio of 1.48 and a beta of 3.44.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on ODD shares. JMP Securities reiterated a "market outperform" rating and set a $66.00 price target on shares of Oddity Tech in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Oddity Tech from $56.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America upped their price objective on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. KeyCorp decreased their target price on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays raised their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $54.63.

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.