Legal Advantage Investments Inc. Cuts Stock Holdings in Ulta Beauty Inc. $ULTA

Legal Advantage Investments Inc. lowered its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,535 shares of the specialty retailer’s stock after selling 150 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Ulta Beauty were worth $1,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Ulta Beauty in the first quarter worth approximately $31,000. Hemington Wealth Management boosted its holdings in Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 40 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 59 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 40 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Ulta Beauty in the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Ulta Beauty from $530.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Oppenheimer increased their price target on shares of Ulta Beauty from $510.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Cowen reiterated a “hold” rating on shares of Ulta Beauty in a research report on Friday, August 29th. Bank of America increased their price target on shares of Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Finally, Evercore ISI increased their price target on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ulta Beauty has a consensus rating of “Moderate Buy” and an average price target of $549.33.

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the sale, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $549.28 on Friday. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 3.02 and a beta of 1.08. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $572.23. The company’s fifty day moving average price is $528.22 and its 200-day moving average price is $464.56.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating the consensus estimate of $5.03 by $0.75. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $5.30 EPS. Equities research analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.