Teachers Retirement System of The State of Kentucky Grows Stake in ODDITY Tech Ltd. $ODD

Teachers Retirement System of The State of Kentucky increased its position in ODDITY Tech Ltd. (NASDAQ:ODD) by 32.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,185 shares of the company’s stock after acquiring an additional 30,000 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.21% of ODDITY Tech worth $1,621,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ODD. Baillie Gifford & Co. boosted its position in ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares during the last quarter. Morgan Stanley increased its position in shares of ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after purchasing an additional 525,481 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of ODDITY Tech by 115.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares during the period. Granahan Investment Management LLC lifted its stake in shares of ODDITY Tech by 1.1% in the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after purchasing an additional 16,747 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of ODDITY Tech by 6.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 713,447 shares of the company’s stock worth $44,448,000 after purchasing an additional 41,723 shares during the period. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Stock Performance

ODD opened at $17.43 on Thursday. The company has a 50 day simple moving average of $13.44 and a two-hundred day simple moving average of $19.90. 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 firm has a market cap of $1.00 billion, a P/E ratio of 22.06 and a beta of 2.37. ODDITY Tech Ltd. has a 1-year low of $9.25 and a 1-year high of $76.00.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share 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 analysts’ expectations of $187.87 million. During the same quarter last year, the firm posted $0.69 EPS. The firm’s quarterly revenue was down 26.2% compared to the same quarter last year. Equities analysts forecast that ODDITY Tech Ltd. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the stock in a transaction dated Tuesday, June 30th. The stock was 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 owned 77,709 shares in the company, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sold a total of 128,805 shares of company stock valued at $1,932,910 over the last three months.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ODD. Truist Financial cut their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Needham & Company LLC reiterated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Zacks Research cut shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Finally, Barclays reduced their price objective on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $25.39.

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.