Wellington Management Group LLP Acquires New Holdings in Oddity Tech Ltd. (NASDAQ:ODD)

Wellington Management Group LLP bought a new stake in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 299,277 shares of the company's stock, valued at approximately $12,085,000. Wellington Management Group LLP owned 0.53% of Oddity Tech as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ODD. Renaissance Technologies LLC purchased a new position in Oddity Tech during the second quarter valued at approximately $3,722,000. Bank of New York Mellon Corp grew its position in shares of Oddity Tech by 1,303.8% during the second quarter. Bank of New York Mellon Corp now owns 145,196 shares of the company's stock worth $5,700,000 after purchasing an additional 134,853 shares in the last quarter. Seven Eight Capital LP bought a new stake in Oddity Tech during the 2nd quarter valued at approximately $1,060,000. ARK Investment Management LLC lifted its holdings in Oddity Tech by 30.5% in the 2nd quarter. ARK Investment Management LLC now owns 64,468 shares of the company's stock worth $2,531,000 after purchasing an additional 15,062 shares in the last quarter. Finally, Aurora Investment Counsel bought a new position in Oddity Tech in the 3rd quarter worth approximately $2,056,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Oddity Tech in a report on Friday. They issued a "neutral" rating and a $48.00 target price on the stock. Barclays lifted their price objective on Oddity Tech from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their target price on Oddity Tech from $46.00 to $50.00 and gave the company an "equal weight" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Oddity Tech currently has an average rating of "Moderate Buy" and an average target price of $53.00.

Oddity Tech Price Performance

Shares of ODD traded down $0.50 during midday trading on Friday, hitting $49.45. The stock had a trading volume of 596,224 shares, compared to its average volume of 653,203. The firm has a market cap of $2.81 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.43 and a beta of 4.45. Oddity Tech Ltd. has a 1 year low of $30.34 and a 1 year high of $51.00. The stock's 50 day moving average is $42.84 and its 200 day moving average is $40.17.

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

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.