Sheets Smith Wealth Management Sells 21,712 Shares of Oddity Tech Ltd. (NASDAQ:ODD)

Sheets Smith Wealth Management lessened its stake in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) by 51.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,477 shares of the company's stock after selling 21,712 shares during the quarter. Sheets Smith Wealth Management's holdings in Oddity Tech were worth $860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in Oddity Tech in the 3rd quarter worth approximately $12,085,000. Cubist Systematic Strategies LLC bought a new stake in Oddity Tech in the 2nd quarter worth approximately $6,744,000. Renaissance Technologies LLC bought a new stake in Oddity Tech in the 2nd quarter worth approximately $3,722,000. Aurora Investment Counsel bought a new stake in Oddity Tech in the 3rd quarter worth approximately $2,056,000. Finally, Janus Henderson Group PLC lifted its position in Oddity Tech by 11.1% in the 3rd quarter. Janus Henderson Group PLC now owns 492,198 shares of the company's stock worth $19,877,000 after buying an additional 49,101 shares during the last quarter. Hedge funds and other institutional investors own 35.88% of the company's stock.

Oddity Tech Trading Down 1.0 %

ODD traded down $0.45 during trading on Wednesday, reaching $44.61. The stock had a trading volume of 272,850 shares, compared to its average volume of 388,797. The stock's 50 day moving average is $44.71 and its two-hundred day moving average is $41.10. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 1.42 and a beta of 4.30. Oddity Tech Ltd. has a one year low of $30.34 and a one year high of $51.00.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODD. Barclays boosted their price objective on Oddity Tech from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. KeyCorp boosted their price objective on Oddity Tech from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, January 8th. The Goldman Sachs Group began coverage on Oddity Tech in a research report on Friday, December 13th. They issued a "neutral" rating and a $48.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Oddity Tech from $46.00 to $50.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.88.

About Oddity Tech

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.