Ulta Beauty, Inc. (NASDAQ:ULTA) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc cut its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 44.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 662 shares of the specialty retailer’s stock after selling 526 shares during the period. AdvisorNet Financial Inc’s holdings in Ulta Beauty were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ULTA. Turtle Creek Wealth Advisors LLC acquired a new position in Ulta Beauty in the fourth quarter worth about $25,000. Vima LLC acquired a new position in Ulta Beauty in the fourth quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in Ulta Beauty in the fourth quarter worth about $28,000. VisionPoint Advisory Group LLC grew its stake in Ulta Beauty by 7,300.0% in the third quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. Finally, Webster Bank N. A. acquired a new position in Ulta Beauty in the fourth quarter worth about $33,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $389.72 on Tuesday. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.36. Ulta Beauty, Inc. has a 1 year low of $368.02 and a 1 year high of $574.76. The firm’s 50 day moving average price is $395.21 and its two-hundred day moving average price is $465.54.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.19 by $0.28. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.88 earnings per share. As a group, equities analysts predict that Ulta Beauty, Inc. will post 25.76 EPS for the current fiscal year.

Ulta Beauty declared that its board has authorized a stock repurchase program on Thursday, March 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Ulta Beauty from $485.00 to $400.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Barclays cut shares of Ulta Beauty from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $612.00 to $434.00 in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ulta Beauty from $574.00 to $627.00 in a report on Friday, March 15th. Canaccord Genuity Group cut their price target on Ulta Beauty from $575.00 to $522.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Finally, UBS Group lifted their price target on Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ulta Beauty has an average rating of “Moderate Buy” and an average target price of $507.30.

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.