Atreides Management LP Takes $73.07 Million Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Atreides Management LP bought a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 187,780 shares of the specialty retailer’s stock, valued at approximately $73,069,000. Ulta Beauty comprises 1.9% of Atreides Management LP’s holdings, making the stock its 17th largest holding.

Several other hedge funds have also made changes to their positions in the stock. Sage Capital Advisors llc lifted its holdings in shares of Ulta Beauty by 5.4% in the 2nd quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock worth $203,000 after purchasing an additional 27 shares during the last quarter. Farther Finance Advisors LLC increased its position in Ulta Beauty by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock valued at $244,000 after acquiring an additional 28 shares during the period. UMB Bank n.a. increased its position in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the period. AdvisorNet Financial Inc increased its position in shares of Ulta Beauty by 5.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 695 shares of the specialty retailer’s stock valued at $268,000 after purchasing an additional 33 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its position in shares of Ulta Beauty by 1.0% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,495 shares of the specialty retailer’s stock valued at $1,349,000 after purchasing an additional 33 shares during the period. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of ULTA opened at $386.64 on Monday. The company has a market capitalization of $18.22 billion, a P/E ratio of 15.52, a PEG ratio of 2.22 and a beta of 1.33. Ulta Beauty, Inc. has a one year low of $318.17 and a one year high of $574.76. The business’s 50 day simple moving average is $374.12 and its 200-day simple moving average is $376.18.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.02 earnings per share. On average, sell-side analysts anticipate that Ulta Beauty, Inc. will post 23.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on ULTA shares. Barclays raised their target price on Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Telsey Advisory Group reissued an “outperform” rating and set a $450.00 price objective on shares of Ulta Beauty in a research report on Wednesday, November 27th. Raymond James reduced their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. UBS Group reduced their price objective on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty has a consensus rating of “Hold” and an average price target of $422.58.

Ulta Beauty Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.