Northern Trust Corp Increases Stock Holdings in Oddity Tech Ltd. (NASDAQ:ODD)

Northern Trust Corp lifted its stake in shares of Oddity Tech Ltd. (NASDAQ:ODD) by 121.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,679 shares of the company’s stock after buying an additional 35,533 shares during the period. Northern Trust Corp owned about 0.11% of Oddity Tech worth $2,718,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Capital International Investors boosted its position in shares of Oddity Tech by 29.5% during the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company’s stock valued at $57,389,000 after buying an additional 311,401 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Oddity Tech by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,283,074 shares of the company’s stock worth $53,915,000 after acquiring an additional 11,716 shares during the period. Hood River Capital Management LLC boosted its position in Oddity Tech by 1.6% in the fourth quarter. Hood River Capital Management LLC now owns 729,536 shares of the company’s stock worth $30,655,000 after purchasing an additional 11,711 shares during the last quarter. Ibex Investors LLC grew its stake in Oddity Tech by 46.5% in the 4th quarter. Ibex Investors LLC now owns 315,000 shares of the company’s stock valued at $13,236,000 after purchasing an additional 100,000 shares during the period. Finally, Norges Bank purchased a new stake in shares of Oddity Tech during the 4th quarter valued at $9,470,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Oddity Tech Stock Performance

Shares of Oddity Tech stock opened at $69.65 on Friday. Oddity Tech Ltd. has a 52-week low of $32.71 and a 52-week high of $73.00. The stock’s 50-day simple moving average is $50.71 and its 200 day simple moving average is $46.84. The stock has a market capitalization of $3.89 billion, a P/E ratio of 42.47, a P/E/G ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business had revenue of $268.08 million for the quarter, compared to analysts’ expectations of $260.71 million. During the same period in the previous year, the business posted $0.61 EPS. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. Equities research analysts forecast that Oddity Tech Ltd. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ODD. Truist Financial lifted their target price on Oddity Tech from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. KeyCorp lowered their target price on Oddity Tech from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on Oddity Tech from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Bank of America lifted their target price on Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Barclays lifted their target price on Oddity Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.63.

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.