Quantbot Technologies LP Buys New Stake in Oddity Tech Ltd. (NASDAQ:ODD)

Quantbot Technologies LP purchased a new position in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,444 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODD. Bamco Inc. NY raised its position in Oddity Tech by 0.8% in the third quarter. Bamco Inc. NY now owns 1,246,046 shares of the company's stock valued at $50,315,000 after purchasing an additional 9,665 shares during the period. Janus Henderson Group PLC grew its stake in shares of Oddity Tech by 11.1% in the third quarter. Janus Henderson Group PLC now owns 492,198 shares of the company's stock valued at $19,877,000 after buying an additional 49,101 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Oddity Tech in the 3rd quarter valued at $12,085,000. State Street Corp lifted its stake in Oddity Tech by 5.7% during the 3rd quarter. State Street Corp now owns 236,199 shares of the company's stock worth $9,538,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in Oddity Tech by 1.9% during the 4th quarter. Peregrine Capital Management LLC now owns 146,155 shares of the company's stock valued at $6,141,000 after acquiring an additional 2,719 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ODD shares. KeyCorp boosted their price target on shares of Oddity Tech from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Barclays upped their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Bank of America raised their price target on shares of Oddity Tech from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Morgan Stanley upped their price objective on Oddity Tech from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group assumed coverage on Oddity Tech in a report on Friday, December 13th. They issued a "neutral" rating and a $48.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.00.

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Oddity Tech Stock Performance

NASDAQ ODD traded up $2.59 during trading on Wednesday, reaching $47.61. 541,525 shares of the company's stock were exchanged, compared to its average volume of 529,511. The company has a 50 day moving average price of $44.70 and a two-hundred day moving average price of $43.22. The stock has a market cap of $2.66 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 1.48 and a beta of 4.20. Oddity Tech Ltd. has a 1 year low of $30.34 and a 1 year high of $51.00.

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.