Seven Eight Capital LP Has $3.44 Million Stock Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Seven Eight Capital LP lifted its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 321.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,904 shares of the specialty retailer's stock after purchasing an additional 6,791 shares during the quarter. Seven Eight Capital LP's holdings in Ulta Beauty were worth $3,436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Avantax Advisory Services Inc. lifted its position in shares of Ulta Beauty by 6.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,227 shares of the specialty retailer's stock worth $601,000 after purchasing an additional 77 shares in the last quarter. ING Groep NV lifted its position in Ulta Beauty by 62.1% in the fourth quarter. ING Groep NV now owns 7,540 shares of the specialty retailer's stock valued at $3,695,000 after acquiring an additional 2,888 shares during the last quarter. Norges Bank purchased a new position in shares of Ulta Beauty during the fourth quarter worth about $263,192,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ulta Beauty in the 4th quarter valued at about $870,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Ulta Beauty by 39.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 26,323 shares of the specialty retailer's stock valued at $12,898,000 after purchasing an additional 7,425 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ULTA shares. Oppenheimer lowered their target price on shares of Ulta Beauty from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Friday, August 30th. Stifel Nicolaus decreased their price objective on Ulta Beauty from $475.00 to $385.00 and set a "hold" rating for the company in a research report on Friday, August 30th. UBS Group cut their price objective on Ulta Beauty from $550.00 to $505.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Robert W. Baird cut their price target on Ulta Beauty from $525.00 to $485.00 and set an "outperform" rating for the company in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group reduced their target price on shares of Ulta Beauty from $522.00 to $500.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $425.29.

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the business's stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares of the company's stock, valued at $2,643,412.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total transaction of $252,642.00. Following the transaction, the insider now owns 6,801 shares in the company, valued at $2,643,412.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Catherine Ann Halligan sold 100 shares of the business's stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now owns 2,017 shares of the company's stock, valued at $786,791.36. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA traded up $5.72 during trading on Wednesday, hitting $402.72. The company had a trading volume of 1,306,653 shares, compared to its average volume of 940,341. The company has a market cap of $18.98 billion, a P/E ratio of 15.71, a PEG ratio of 2.22 and a beta of 1.31. The business's 50-day moving average is $368.18 and its 200 day moving average is $410.00. Ulta Beauty, Inc. has a 52 week low of $318.17 and a 52 week high of $574.76.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts' consensus estimates of $5.47 by ($0.17). The firm had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. Ulta Beauty's quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $6.02 earnings per share. On average, research analysts expect that Ulta Beauty, Inc. will post 23.21 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.