Woodline Partners LP Purchases New Holdings in Oddity Tech Ltd. (NASDAQ:ODD)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sphera Management Technology Funds Ltd bought a new position in shares of Oddity Tech in the fourth quarter valued at $1,891,000. Two Sigma Investments LP raised its position in shares of Oddity Tech by 2.3% during the fourth quarter. Two Sigma Investments LP now owns 125,366 shares of the company's stock worth $5,268,000 after purchasing an additional 2,812 shares during the period. Point72 Asset Management L.P. raised its position in shares of Oddity Tech by 33.7% during the fourth quarter. Point72 Asset Management L.P. now owns 22,200 shares of the company's stock worth $933,000 after purchasing an additional 5,600 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Oddity Tech by 20.1% during the fourth quarter. ProShare Advisors LLC now owns 44,836 shares of the company's stock valued at $1,884,000 after purchasing an additional 7,492 shares during the last quarter. Finally, Man Group plc boosted its position in shares of Oddity Tech by 105.3% in the 4th quarter. Man Group plc now owns 30,428 shares of the company's stock valued at $1,279,000 after purchasing an additional 15,610 shares during the period. 35.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ODD has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on Oddity Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. JMP Securities reissued 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. decreased their price objective on Oddity Tech from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Truist Financial upped their target price on Oddity Tech from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, KeyCorp lowered their price objective on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.63.

Oddity Tech Price Performance

NASDAQ:ODD traded up $2.28 during trading hours on Tuesday, reaching $71.93. The company's stock had a trading volume of 1,380,083 shares, compared to its average volume of 560,515. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 43.86, a price-to-earnings-growth ratio of 1.48 and a beta of 3.44. Oddity Tech Ltd. has a one year low of $32.71 and a one year high of $73.00. The business's 50-day moving average is $51.23 and its 200-day moving average is $47.03.

Oddity Tech (NASDAQ:ODD - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The company had revenue of $268.08 million during the quarter, compared to the consensus estimate 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 was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. On average, sell-side analysts predict that Oddity Tech Ltd. will post 1.62 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.