ODDITY Tech Target of Unusually High Options Trading (NASDAQ:ODD)

ODDITY Tech Ltd. (NASDAQ:ODD) saw unusually large options trading on Wednesday. Traders bought 9,433 call options on the company. This is an increase of approximately 376% compared to the average daily volume of 1,981 call options.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer directly owned 77,709 shares in the company, valued at $1,172,628.81. This represents a 58.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 128,805 shares of company stock worth $1,932,910.

Institutional Investors Weigh In On ODDITY Tech

A number of institutional investors have recently made changes to their positions in ODD. Bamco Inc. NY lifted its holdings in ODDITY Tech by 11.3% in the third quarter. Bamco Inc. NY now owns 1,376,781 shares of the company’s stock valued at $85,773,000 after buying an additional 139,348 shares during the period. Baillie Gifford & Co. grew 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 acquiring an additional 1,076,921 shares during the period. Granahan Investment Management LLC raised its position in shares of ODDITY Tech by 11.1% in the 3rd quarter. Granahan Investment Management LLC now owns 1,506,457 shares of the company’s stock worth $93,852,000 after acquiring an additional 151,110 shares in the last quarter. Peregrine Capital Management LLC raised its position in shares of ODDITY Tech by 31.2% in the 4th 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 in the last quarter. Finally, Penn Capital Management Company LLC raised its position in shares of ODDITY Tech by 20.9% in the 3rd quarter. Penn Capital Management Company LLC now owns 210,290 shares of the company’s stock worth $13,134,000 after acquiring an additional 36,330 shares in the last quarter. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Trading Up 10.6%

ODD traded up $1.61 during trading on Wednesday, reaching $16.74. 915,598 shares of the company’s stock were exchanged, compared to its average volume of 1,929,879. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. ODDITY Tech has a one year low of $9.25 and a one year high of $77.83. The firm has a fifty day moving average price of $13.02 and a two-hundred day moving average price of $21.85. The stock has a market capitalization of $963.95 million, a PE ratio of 21.19 and a beta of 2.47.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the business posted $0.69 EPS. ODDITY Tech’s revenue was down 26.2% on a year-over-year basis. As a group, equities research analysts forecast that ODDITY Tech will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ODD shares. Zacks Research cut shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a report on Monday. Barclays decreased their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Morgan Stanley lowered their price objective on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Truist Financial dropped their price objective on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, June 3rd. Finally, KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, ODDITY Tech has a consensus rating of “Reduce” and a consensus price target of $25.39.

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.