Conestoga Capital Advisors LLC Purchases 67,285 Shares of ODDITY Tech Ltd. $ODD

Conestoga Capital Advisors LLC raised its position in ODDITY Tech Ltd. (NASDAQ:ODD) by 221.8% in the 1st quarter, HoldingsChannel reports. The fund owned 97,620 shares of the company’s stock after purchasing an additional 67,285 shares during the period. Conestoga Capital Advisors LLC’s holdings in ODDITY Tech were worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ODD. Janus Henderson Group PLC boosted its stake in ODDITY Tech by 115.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after buying an additional 1,296,551 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after buying an additional 1,076,921 shares in the last quarter. Morgan Stanley lifted its holdings in shares of ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after acquiring an additional 525,481 shares during the period. Wellington Management Group LLP acquired a new stake in shares of ODDITY Tech during the 3rd quarter valued at about $27,838,000. Finally, Altshuler Shaham Ltd boosted its position in shares of ODDITY Tech by 364.7% during the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after acquiring an additional 392,967 shares in the last quarter. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Stock Up 12.4%

ODD opened at $17.01 on Thursday. The firm has a market cap of $979.44 million, a price-to-earnings ratio of 21.53 and a beta of 2.37. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The firm’s 50-day simple moving average is $13.07 and its 200-day simple moving average is $21.66. ODDITY Tech Ltd. has a twelve month low of $9.25 and a twelve month high of $77.83.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. Equities research analysts anticipate that ODDITY Tech Ltd. will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 128,805 shares of company stock worth $1,932,910 over the last three months.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ODD. Barclays lowered their target price on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Morgan Stanley dropped their target price on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Finally, Zacks Research downgraded ODDITY Tech from a “hold” rating to a “strong sell” rating in a research report on Monday. Eight analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.