Sparta 24 Ltd. Makes New $1.08 Million Investment in ODDITY Tech Ltd. $ODD

Sparta 24 Ltd. bought a new position in shares of ODDITY Tech Ltd. (NASDAQ:ODD) during the 1st quarter, Holdings Channel reports. The firm bought 80,883 shares of the company’s stock, valued at approximately $1,082,000. ODDITY Tech accounts for about 1.2% of Sparta 24 Ltd.’s investment portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wexford Capital LP bought a new position in shares of ODDITY Tech in the third quarter valued at about $40,000. Legal & General Group Plc bought a new stake in ODDITY Tech during the 2nd quarter worth about $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ODDITY Tech by 134.8% during the 3rd 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 last quarter. Headlands Technologies LLC acquired a new stake in ODDITY Tech in the 2nd quarter valued at about $108,000. Finally, Wolff Wiese Magana LLC increased its position in ODDITY Tech by 2,435.3% in the 4th quarter. Wolff Wiese Magana LLC now owns 2,941 shares of the company’s stock valued at $118,000 after acquiring an additional 2,825 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 128,805 shares of company stock worth $1,932,910 over the last ninety days.

ODDITY Tech Stock Performance

Shares of NASDAQ:ODD opened at $16.33 on Friday. The stock has a market capitalization of $940.20 million, a P/E ratio of 20.67 and a beta of 2.37. ODDITY Tech Ltd. has a 1-year low of $9.25 and a 1-year high of $75.45. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $13.50 and a two-hundred day moving average price of $19.69.

ODDITY Tech (NASDAQ:ODD) last released its earnings results 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). The business had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The business’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. Equities analysts predict that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ODD shares. Truist Financial reduced their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, June 3rd. Jefferies Financial Group restated a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a research report on Tuesday, June 2nd. The Goldman Sachs Group cut shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Finally, Zacks Research lowered ODDITY Tech from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Eight research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, ODDITY Tech has an average rating of “Reduce” and an average target price of $25.39.

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