ODDITY Tech (NASDAQ:ODD) Stock Price Down 10.7% After Insider Selling

ODDITY Tech Ltd. (NASDAQ:ODD) fell 10.7% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $13.61 and last traded at $13.59. 367,830 shares changed hands during trading, a decline of 79% from the average daily volume of 1,740,249 shares. The stock had previously closed at $15.22.

Specifically, CFO Mann Lindsay Drucker sold 11,473 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $15.10, for a total transaction of $173,242.30. Following the completion of the transaction, the chief financial officer owned 104,492 shares of the company’s stock, valued at $1,577,829.20. This represents a 9.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

ODD has been the topic of a number of recent research reports. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Wall Street Zen cut ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Zacks Research upgraded shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Nine research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, ODDITY Tech has a consensus rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Price Performance

The firm has a market capitalization of $781.58 million, a price-to-earnings ratio of 17.17 and a beta of 2.38. The company’s 50 day moving average is $14.30 and its 200 day moving average is $17.53. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. On average, equities research analysts anticipate that ODDITY Tech Ltd. will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ODD. Baillie Gifford & Co. lifted its holdings in ODDITY Tech by 17.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after buying an additional 1,076,921 shares during the period. Peregrine Capital Management LLC raised its position in shares of ODDITY Tech by 31.2% during the fourth quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock worth $7,654,000 after acquiring an additional 45,253 shares during the last quarter. Sparta 24 Ltd. bought a new position in shares of ODDITY Tech during the first quarter worth about $1,082,000. Halter Ferguson Financial Inc. acquired a new position in shares of ODDITY Tech in the first quarter worth approximately $2,789,000. Finally, Rice Hall James & Associates LLC bought a new stake in ODDITY Tech in the first quarter valued at approximately $3,533,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.