Y.D. More Investments Ltd Lowers Stock Position in ODDITY Tech Ltd. (NASDAQ:ODD)

Key Points

• Y.D. More Investments Ltd reduced its stake in ODDITY Tech by 84.9% in the first quarter, leaving it with approximately 94,007 shares valued at $4.07 million.
• Despite Y.D. More's pullback, Deutsche Bank AG increased its holdings by 65.0%, now owning 1,340 shares, while other investors also enhanced their positions in ODDITY Tech.
• ODDITY Tech reported an earnings per share (EPS) of $0.92 for the last quarter, exceeding analyst expectations, with revenues reaching $241.14 million, marking a 25.1% increase year-over-year.

Y.D. More Investments Ltd decreased its position in shares of ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) by 84.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,007 shares of the company's stock after selling 528,233 shares during the period. Y.D. More Investments Ltd owned about 0.17% of ODDITY Tech worth $4,067,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. grew its position in ODDITY Tech by 4.8% during the first quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company's stock valued at $270,605,000 after acquiring an additional 285,745 shares during the period. Granahan Investment Management LLC increased its position in ODDITY Tech by 15.9% in the 4th quarter. Granahan Investment Management LLC now owns 1,538,198 shares of the company's stock valued at $64,635,000 after acquiring an additional 211,485 shares during the period. Bamco Inc. NY boosted its stake in shares of ODDITY Tech by 14.7% during the 4th quarter. Bamco Inc. NY now owns 1,429,198 shares of the company's stock worth $60,055,000 after acquiring an additional 183,152 shares in the last quarter. Capital International Investors boosted its stake in shares of ODDITY Tech by 29.5% during the 4th quarter. Capital International Investors now owns 1,365,744 shares of the company's stock worth $57,389,000 after acquiring an additional 311,401 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of ODDITY Tech by 0.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,289,493 shares of the company's stock worth $55,783,000 after buying an additional 6,419 shares during the period. Hedge funds and other institutional investors own 35.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial lifted their price objective on ODDITY Tech from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. JMP Securities upped their price objective on ODDITY Tech from $72.00 to $80.00 and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Morgan Stanley upped their target price on shares of ODDITY Tech from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. KeyCorp boosted their target price on ODDITY Tech from $65.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Bank of America raised their target price on shares of ODDITY Tech from $68.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $74.88.

ODDITY Tech Stock Performance

ODDITY Tech stock traded up $0.37 during midday trading on Monday, reaching $58.59. 408,112 shares of the company traded hands, compared to its average volume of 880,996. The business has a 50 day moving average of $71.37 and a two-hundred day moving average of $57.12. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.32 and a quick ratio of 5.57. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 2.77 and a beta of 3.27. ODDITY Tech Ltd. has a 12 month low of $32.71 and a 12 month high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. ODDITY Tech had a net margin of 14.65% and a return on equity of 32.17%. The firm had revenue of $241.14 million for the quarter, compared to the consensus estimate of $237.44 million. During the same quarter in the previous year, the firm earned $0.82 EPS. The company's quarterly revenue was up 25.1% compared to the same quarter last year. As a group, research analysts predict that ODDITY Tech Ltd. will post 1.62 earnings per share for the current 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.