Renaissance Technologies LLC Makes New Investment in Oddity Tech Ltd. (NASDAQ:ODD)

Renaissance Technologies LLC purchased a new position in Oddity Tech Ltd. (NASDAQ:ODD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 94,800 shares of the company’s stock, valued at approximately $3,722,000. Renaissance Technologies LLC owned approximately 0.17% of Oddity Tech at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Parallel Advisors LLC grew its holdings in shares of Oddity Tech by 69.7% during the fourth quarter. Parallel Advisors LLC now owns 594 shares of the company’s stock worth $28,000 after buying an additional 244 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Oddity Tech during the second quarter worth about $102,000. Federated Hermes Inc. bought a new position in shares of Oddity Tech during the second quarter worth about $113,000. Knuff & Co LLC grew its holdings in shares of Oddity Tech by 43.1% during the second quarter. Knuff & Co LLC now owns 5,013 shares of the company’s stock worth $197,000 after buying an additional 1,510 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Oddity Tech during the first quarter worth about $301,000. 35.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ODD has been the subject of a number of analyst reports. Barclays decreased their price target on Oddity Tech from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $58.00 price target on shares of Oddity Tech in a research note on Friday, June 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.43.

Oddity Tech Price Performance

Oddity Tech stock opened at $39.72 on Monday. The stock’s fifty day moving average price is $37.70 and its two-hundred day moving average price is $38.37. Oddity Tech Ltd. has a one year low of $24.12 and a one year high of $50.36. The firm has a market cap of $2.26 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 1.21 and a beta of 4.48.

Oddity Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.24. Oddity Tech had a return on equity of 26.66% and a net margin of 14.66%. The firm had revenue of $192.77 million for the quarter, compared to analyst estimates of $188.49 million. During the same quarter last year, the company earned $0.52 EPS. The company’s revenue was up 27.4% on a year-over-year basis. Sell-side analysts expect that Oddity Tech Ltd. will post 1.46 earnings per share for the current fiscal year.

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.