AdvisorNet Financial Inc Acquires 39 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

AdvisorNet Financial Inc lifted its holdings in Ulta Beauty, Inc. (NASDAQ:ULTAFree Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,188 shares of the specialty retailer’s stock after acquiring an additional 39 shares during the period. AdvisorNet Financial Inc’s holdings in Ulta Beauty were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Congress Park Capital LLC bought a new position in shares of Ulta Beauty in the 4th quarter valued at about $304,000. SFG Wealth Management LLC. bought a new stake in Ulta Beauty in the fourth quarter worth about $209,000. AMI Asset Management Corp lifted its stake in Ulta Beauty by 1.1% in the fourth quarter. AMI Asset Management Corp now owns 101,098 shares of the specialty retailer’s stock worth $49,537,000 after purchasing an additional 1,096 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Ulta Beauty by 0.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 2,828 shares of the specialty retailer’s stock worth $1,386,000 after purchasing an additional 23 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its stake in Ulta Beauty by 2.4% in the fourth quarter. AlphaMark Advisors LLC now owns 1,215 shares of the specialty retailer’s stock worth $595,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total value of $1,629,325.50. Following the transaction, the insider now directly owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the completion of the sale, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the sale, the director now owns 1,665 shares of the company’s stock, valued at $876,222.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,552 shares of company stock valued at $12,920,326. 0.34% of the stock is currently owned by insiders.

Ulta Beauty Trading Up 1.2 %

NASDAQ ULTA opened at $529.01 on Tuesday. The firm’s fifty day simple moving average is $527.01 and its two-hundred day simple moving average is $463.60. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $574.76. The firm has a market capitalization of $25.54 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.07 and a beta of 1.30.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the company earned $6.68 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Ulta Beauty, Inc. will post 26.94 earnings per share for the current fiscal year.

Ulta Beauty announced that its board has approved a stock buyback program on Thursday, March 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ULTA. Jefferies Financial Group raised their price objective on shares of Ulta Beauty from $587.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. BMO Capital Markets raised their price objective on shares of Ulta Beauty from $485.00 to $540.00 and gave the stock a “market perform” rating in a research note on Friday, March 15th. Evercore ISI reduced their target price on shares of Ulta Beauty from $656.00 to $635.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Piper Sandler raised their target price on shares of Ulta Beauty from $635.00 to $665.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, Morgan Stanley raised their target price on shares of Ulta Beauty from $480.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $577.70.

Check Out Our Latest Report on Ulta Beauty

Ulta Beauty Profile

(Free Report)

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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