Wellington Management Group LLP Lowers Stake in Oddity Tech Ltd. (NASDAQ:ODD)

Wellington Management Group LLP decreased its holdings in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) by 60.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,002 shares of the company's stock after selling 182,275 shares during the period. Wellington Management Group LLP owned approximately 0.21% of Oddity Tech worth $4,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Oddity Tech in the fourth quarter worth $9,470,000. JPMorgan Chase & Co. increased its stake in shares of Oddity Tech by 37.7% in the fourth quarter. JPMorgan Chase & Co. now owns 170,878 shares of the company's stock worth $7,180,000 after purchasing an additional 46,776 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in Oddity Tech in the 4th quarter valued at approximately $42,000. KLP Kapitalforvaltning AS bought a new position in Oddity Tech in the 4th quarter worth approximately $303,000. Finally, Sei Investments Co. lifted its holdings in shares of Oddity Tech by 6.8% during the fourth quarter. Sei Investments Co. now owns 26,335 shares of the company's stock worth $1,107,000 after buying an additional 1,674 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ODD shares. Bank of America boosted their price objective on Oddity Tech from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Barclays upped their price target on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. initiated coverage on shares of Oddity Tech in a research note on Friday, January 31st. They issued an "overweight" rating and a $55.00 target price for the company. Finally, KeyCorp lowered their target price on Oddity Tech from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $52.14.

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Oddity Tech Price Performance

Shares of ODD traded up $0.13 during trading hours on Wednesday, hitting $41.21. The stock had a trading volume of 125,180 shares, compared to its average volume of 520,675. The firm has a market capitalization of $2.30 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.48 and a beta of 3.73. Oddity Tech Ltd. has a 1-year low of $30.34 and a 1-year high of $51.00. The firm has a 50 day simple moving average of $43.46 and a 200-day simple moving average of $43.49.

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.