ODDITY Tech (NASDAQ:ODD) Shares Down 10.7% on Insider Selling

Key Points

• ODDITY Tech shares fell 10.7% to $13.59 after CFO Mann Lindsay Drucker sold 11,473 shares worth $173,242 to cover tax obligations tied to vested equity awards.
• Recent analyst sentiment remains cautious: nine analysts rate the stock Hold and four rate it Sell, resulting in a consensus “Reduce” rating. Morgan Stanley and Truist also cut their price targets to $10 and $12, respectively.
• The company missed quarterly EPS expectations, posting a $0.17 loss versus the projected $0.04 loss, while revenue rose above estimates but declined 26.2% year over year.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report)'s share price dropped 10.7% during trading on Thursday following insider selling activity. The stock traded as low as $13.61 and last traded at $13.59. 367,830 shares changed hands during trading, a decline of 79% from the average daily volume of 1,740,249 shares. The stock had previously closed at $15.22.

Specifically, CFO Mann Lindsay Drucker sold 11,473 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $15.10, for a total transaction of $173,242.30. Following the completion of the sale, the chief financial officer owned 104,492 shares of the company's stock, valued at $1,577,829.20. This represents a 9.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ODD. KeyCorp reiterated a "sector weight" rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Zacks Research raised ODDITY Tech from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Morgan Stanley dropped their price objective on ODDITY Tech from $16.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 3rd. Truist Financial decreased their target price on ODDITY Tech from $18.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $10.25 price target on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Nine research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $25.39.

ODDITY Tech Stock Down 10.8%

The firm has a 50 day moving average of $14.30 and a 200-day moving average of $17.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. The stock has a market capitalization of $781.58 million, a P/E ratio of 17.17 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last released its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The firm had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business's revenue for the quarter was down 26.2% on a year-over-year basis. On average, equities research analysts expect that ODDITY Tech Ltd. will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODDITY Tech

Several large investors have recently made changes to their positions in ODD. Wexford Capital LP acquired a new position in shares of ODDITY Tech in the 3rd quarter valued at $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ODDITY Tech by 134.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company's stock worth $69,000 after acquiring an additional 651 shares during the period. USS Investment Management Ltd lifted its position in ODDITY Tech by 5.3% in the 4th quarter. USS Investment Management Ltd now owns 13,753 shares of the company's stock valued at $552,000 after acquiring an additional 695 shares in the last quarter. California State Teachers Retirement System lifted its position in ODDITY Tech by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 43,532 shares of the company's stock valued at $1,749,000 after acquiring an additional 870 shares in the last quarter. Finally, Entropy Technologies LP boosted its stake in ODDITY Tech by 10.0% in the 3rd quarter. Entropy Technologies LP now owns 9,900 shares of the company's stock worth $617,000 after purchasing an additional 900 shares during the period. Institutional investors own 35.88% of the company's stock.

About ODDITY Tech

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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