Fred Alger Management LLC Decreases Stock Position in Oddity Tech Ltd. (NASDAQ:ODD)

Fred Alger Management LLC cut its position in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) by 53.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,638 shares of the company's stock after selling 67,921 shares during the quarter. Fred Alger Management LLC owned approximately 0.10% of Oddity Tech worth $2,408,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Oddity Tech by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company's stock worth $49,996,000 after purchasing an additional 5,417 shares during the period. Y.D. More Investments Ltd grew its stake in Oddity Tech by 8.6% in the second quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company's stock worth $23,436,000 after purchasing an additional 47,390 shares during the period. Hood River Capital Management LLC purchased a new position in Oddity Tech during the second quarter valued at $23,397,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Oddity Tech by 491.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company's stock worth $11,612,000 after buying an additional 245,764 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Oddity Tech during the second quarter worth about $6,744,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays increased their price target on shares of Oddity Tech from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Oddity Tech currently has an average rating of "Moderate Buy" and an average price target of $53.33.

Oddity Tech Trading Down 3.5 %

NASDAQ ODD traded down $1.61 on Monday, reaching $44.85. 402,394 shares of the stock were exchanged, compared to its average volume of 659,187. Oddity Tech Ltd. has a one year low of $30.34 and a one year high of $50.36. The company's 50-day simple moving average is $41.14 and its two-hundred day simple moving average is $39.58. The firm has a market capitalization of $2.55 billion, a PE ratio of 27.35, a PEG ratio of 1.40 and a beta of 4.40.

Oddity Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $116.47 million. During the same period in the prior year, the company posted $0.06 EPS. The firm's revenue for the quarter was up 26.0% compared to the same quarter last year. Sell-side analysts forecast that Oddity Tech Ltd. will post 1.64 earnings per share for the current fiscal year.

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.