Norges Bank Invests $9.47 Million in Oddity Tech Ltd. (NASDAQ:ODD)

Norges Bank purchased a new stake in Oddity Tech Ltd. (NASDAQ:ODD - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 225,374 shares of the company's stock, valued at approximately $9,470,000. Norges Bank owned 0.40% of Oddity Tech at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Oddity Tech in the fourth quarter valued at $42,000. R Squared Ltd bought a new position in shares of Oddity Tech in the fourth quarter worth about $61,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Oddity Tech during the third quarter worth approximately $99,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Oddity Tech during the fourth quarter valued at approximately $246,000. Finally, Blue Trust Inc. increased its holdings in shares of Oddity Tech by 33.2% in the fourth quarter. Blue Trust Inc. now owns 6,437 shares of the company's stock valued at $260,000 after purchasing an additional 1,603 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Oddity Tech Stock Down 0.2 %

Shares of NASDAQ:ODD traded down $0.07 during mid-day trading on Friday, reaching $41.58. 279,570 shares of the stock were exchanged, compared to its average volume of 524,450. Oddity Tech Ltd. has a one year low of $30.34 and a one year high of $51.00. The stock's 50 day simple moving average is $43.70 and its 200-day simple moving average is $43.49. The company has a market cap of $2.32 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.48 and a beta of 3.73.

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Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Oddity Tech in a report on Friday, January 31st. They set an "overweight" rating and a $55.00 target price for the company. KeyCorp increased their price target on shares of Oddity Tech from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, January 8th. Barclays increased their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, Bank of America lifted their target price on Oddity Tech from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.