Renaissance Technologies LLC Makes New Investment in Oddity Tech Ltd. (NASDAQ:ODD)

Renaissance Technologies LLC bought a new position in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 94,800 shares of the company's stock, valued at approximately $3,722,000. Renaissance Technologies LLC owned 0.17% of Oddity Tech at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ODD. Parallel Advisors LLC increased its holdings in Oddity Tech by 69.7% during the 4th quarter. Parallel Advisors LLC now owns 594 shares of the company's stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Oddity Tech during the 2nd quarter worth approximately $102,000. Federated Hermes Inc. acquired a new position in shares of Oddity Tech during the 2nd quarter worth approximately $113,000. Knuff & Co LLC lifted its stake in Oddity Tech by 43.1% in the 2nd quarter. Knuff & Co LLC now owns 5,013 shares of the company's stock valued at $197,000 after buying an additional 1,510 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Oddity Tech during the 1st quarter valued at $301,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Oddity Tech Trading Up 0.9 %

Shares of NASDAQ ODD traded up $0.36 on Monday, reaching $40.08. 289,527 shares of the company traded hands, compared to its average volume of 730,801. Oddity Tech Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $50.36. The company has a 50 day moving average of $37.70 and a 200 day moving average of $38.37. The stock has a market capitalization of $2.28 billion, a PE ratio of 33.13, a P/E/G ratio of 1.21 and a beta of 4.48.

Oddity Tech (NASDAQ:ODD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.24. Oddity Tech had a return on equity of 26.66% and a net margin of 14.66%. The company had revenue of $192.77 million during the quarter, compared to the consensus estimate of $188.49 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company's revenue was up 27.4% compared to the same quarter last year. As a group, research analysts expect that Oddity Tech Ltd. will post 1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ODD. Truist Financial restated a "buy" rating and issued a $58.00 price objective on shares of Oddity Tech in a research report on Friday, June 7th. Barclays reduced their target price on shares of Oddity Tech from $40.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Oddity Tech has an average rating of "Moderate Buy" and an average price target of $52.43.

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.