CIBC Private Wealth Group LLC Sells 32,133 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

CIBC Private Wealth Group LLC trimmed its stake in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 31.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,493 shares of the specialty retailer's stock after selling 32,133 shares during the period. CIBC Private Wealth Group LLC owned 0.15% of Ulta Beauty worth $28,434,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Ulta Beauty in the fourth quarter worth about $239,432,000. Holocene Advisors LP lifted its holdings in Ulta Beauty by 3,246.2% during the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer's stock valued at $134,737,000 after purchasing an additional 335,914 shares in the last quarter. Atreides Management LP bought a new position in shares of Ulta Beauty in the third quarter worth approximately $73,069,000. Proficio Capital Partners LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter worth $58,074,000. Finally, Victory Capital Management Inc. raised its position in shares of Ulta Beauty by 364.6% during the 4th quarter. Victory Capital Management Inc. now owns 159,053 shares of the specialty retailer's stock valued at $69,177,000 after purchasing an additional 124,822 shares during the period. 90.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jodi J. Caro sold 902 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now directly owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. The trade was a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ULTA shares. JPMorgan Chase & Co. cut their price target on Ulta Beauty from $480.00 to $475.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Piper Sandler cut their target price on Ulta Beauty from $425.00 to $364.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Barclays lowered their price target on Ulta Beauty from $445.00 to $327.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group raised shares of Ulta Beauty from a "neutral" rating to a "buy" rating and increased their price objective for the company from $384.00 to $423.00 in a report on Tuesday. Finally, Canaccord Genuity Group lowered their target price on shares of Ulta Beauty from $538.00 to $526.00 and set a "buy" rating on the stock in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $427.61.

Ulta Beauty Trading Up 2.3 %

Shares of ULTA stock traded up $8.60 during trading hours on Wednesday, reaching $382.51. 797,100 shares of the stock were exchanged, compared to its average volume of 1,063,608. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. Ulta Beauty, Inc. has a 12-month low of $309.01 and a 12-month high of $474.12. The company's 50-day moving average price is $371.22 and its 200-day moving average price is $386.30.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the business earned $8.08 earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

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.