Renaissance Technologies LLC Trims Stock Position in ODDITY Tech Ltd. $ODD

Renaissance Technologies LLC trimmed its holdings in ODDITY Tech Ltd. (NASDAQ:ODD) by 88.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,800 shares of the company’s stock after selling 366,100 shares during the quarter. Renaissance Technologies LLC owned 0.08% of ODDITY Tech worth $653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC lifted its holdings in shares of ODDITY Tech by 31.2% in the 4th quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock valued at $7,654,000 after buying an additional 45,253 shares during the period. Halter Ferguson Financial Inc. purchased a new position in ODDITY Tech during the first quarter valued at approximately $2,789,000. Sparta 24 Ltd. acquired a new position in ODDITY Tech in the first quarter valued at approximately $1,082,000. Teachers Retirement System of The State of Kentucky boosted its position in ODDITY Tech by 32.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company’s stock worth $1,621,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of ODDITY Tech by 110.6% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company’s stock worth $23,718,000 after purchasing an additional 310,000 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Zacks Research upgraded shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a report on Tuesday, June 2nd. The Goldman Sachs Group downgraded shares of ODDITY Tech from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Barclays dropped their target price on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 3rd. Finally, KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Price Performance

Shares of NASDAQ ODD opened at $13.11 on Monday. The firm has a market cap of $754.87 million, a price-to-earnings ratio of 16.59 and a beta of 2.38. The company’s 50-day simple moving average is $14.53 and its 200-day simple moving average is $16.44. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. ODDITY Tech Ltd. has a 52-week low of $9.25 and a 52-week high of $64.23.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. Equities analysts predict that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 11,473 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $15.10, for a total value of $173,242.30. Following the completion of the transaction, the chief financial officer directly owned 104,492 shares of the company’s stock, valued at approximately $1,577,829.20. This represents a 9.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 130,678 shares of company stock worth $1,956,201 in the last three months.

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