Fred Alger Management LLC Has $2.41 Million Holdings in Oddity Tech Ltd. (NASDAQ:ODD)

Fred Alger Management LLC decreased its holdings in Oddity Tech Ltd. (NASDAQ:ODD) by 53.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,638 shares of the company’s stock after selling 67,921 shares during the quarter. Fred Alger Management LLC’s holdings in Oddity Tech were worth $2,408,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Oddity Tech during the 2nd quarter worth $102,000. Public Employees Retirement Association of Colorado acquired a new stake in Oddity Tech during the second quarter worth about $102,000. Federated Hermes Inc. bought a new position in Oddity Tech in the 2nd quarter valued at about $113,000. Mendota Financial Group LLC acquired a new position in shares of Oddity Tech in the 3rd quarter valued at approximately $162,000. Finally, Blue Trust Inc. lifted its holdings in shares of Oddity Tech by 13.3% during the 3rd quarter. Blue Trust Inc. now owns 4,834 shares of the company’s stock worth $190,000 after acquiring an additional 566 shares during the period. Institutional investors own 35.88% of the company’s stock.

Oddity Tech Trading Up 0.4 %

ODD opened at $46.46 on Monday. The company’s 50 day moving average is $41.14 and its 200-day moving average is $39.61. The company has a market cap of $2.64 billion, a P/E ratio of 28.33, a PEG ratio of 1.40 and a beta of 4.40. Oddity Tech Ltd. has a 1-year low of $30.34 and a 1-year high of $50.36.

Oddity Tech (NASDAQ:ODD) last posted its earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The firm had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $116.47 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 26.0% on a year-over-year basis. On average, equities analysts forecast that Oddity Tech Ltd. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

Separately, Barclays lifted their price objective on shares of Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

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.