Corton Capital Inc. Makes New $317,000 Investment in ODDITY Tech Ltd. $ODD

Corton Capital Inc. acquired a new stake in ODDITY Tech Ltd. (NASDAQ:ODD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,202 shares of the company’s stock, valued at approximately $317,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in ODDITY Tech by 4.8% during the first quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company’s stock worth $270,605,000 after buying an additional 285,745 shares during the last quarter. Granahan Investment Management LLC boosted its position in shares of ODDITY Tech by 1.1% in the first quarter. Granahan Investment Management LLC now owns 1,555,191 shares of the company’s stock valued at $67,278,000 after acquiring an additional 16,993 shares during the period. 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 valued at $55,783,000 after acquiring an additional 6,419 shares during the period. Woodline Partners LP boosted its position in shares of ODDITY Tech by 239.1% in the first quarter. Woodline Partners LP now owns 440,533 shares of the company’s stock valued at $19,057,000 after acquiring an additional 310,602 shares during the period. Finally, Penn Capital Management Company LLC lifted its position in ODDITY Tech by 34.7% during the first quarter. Penn Capital Management Company LLC now owns 278,593 shares of the company’s stock worth $12,084,000 after purchasing an additional 71,787 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.

ODDITY Tech Trading Up 4.0%

Shares of ODDITY Tech stock opened at $45.25 on Monday. The stock has a fifty day moving average price of $56.95 and a 200-day moving average price of $62.96. ODDITY Tech Ltd. has a 1 year low of $35.30 and a 1 year high of $79.18. The firm has a market cap of $2.53 billion, a PE ratio of 25.14, a P/E/G ratio of 2.15 and a beta of 3.16. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.32 and a quick ratio of 5.57.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. ODDITY Tech had a return on equity of 32.17% and a net margin of 14.65%.The company had revenue of $241.14 million during the quarter, compared to analyst estimates of $237.44 million. During the same quarter last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. Equities research analysts anticipate that ODDITY Tech Ltd. will post 1.62 EPS for the current year.

Analyst Upgrades and Downgrades

ODD has been the subject of several recent analyst reports. Needham & Company LLC assumed coverage on shares of ODDITY Tech in a research report on Thursday, August 28th. They set a “buy” rating and a $72.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of ODDITY Tech in a report on Tuesday, September 23rd. Truist Financial upped their target price on ODDITY Tech from $65.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Morgan Stanley raised their price objective on shares of ODDITY Tech from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Zacks Research cut ODDITY Tech from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.90.

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.