Edgestream Partners L.P. Trims Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Edgestream Partners L.P. lowered its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,684 shares of the specialty retailer’s stock after selling 322 shares during the quarter. Edgestream Partners L.P.’s holdings in Ulta Beauty were worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its stake in shares of Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares during the period. Vima LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter valued at $27,000. Riverview Trust Co purchased a new stake in shares of Ulta Beauty in the first quarter valued at $30,000. Sound Income Strategies LLC raised its stake in shares of Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 49 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Ulta Beauty in the first quarter valued at $31,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ULTA. B. Riley began coverage on shares of Ulta Beauty in a research note on Tuesday, September 10th. They issued a “sell” rating and a $300.00 price target on the stock. TD Cowen reduced their price target on shares of Ulta Beauty from $500.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. The Goldman Sachs Group reduced their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $530.00 to $544.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, UBS Group reduced their price target on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $425.29.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $402.01 on Friday. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The stock has a market capitalization of $19.18 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.22 and a beta of 1.31. The company’s 50-day simple moving average is $368.01 and its 200-day simple moving average is $408.95.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business posted $6.02 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts forecast that Ulta Beauty, Inc. will post 23.21 EPS for the current year.

Insider Activity

In related news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares in the company, valued at approximately $2,643,412.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares in the company, valued at approximately $2,643,412.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Catherine Ann Halligan sold 100 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now owns 2,017 shares of the company’s stock, valued at $786,791.36. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

About Ulta Beauty

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.