Point72 Asset Management L.P. Invests $345,000 in Oddity Tech Ltd. (NASDAQ:ODD)

Point72 Asset Management L.P. purchased a new position in Oddity Tech Ltd. (NASDAQ:ODD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,800 shares of the company’s stock, valued at approximately $345,000.

A number of other large investors have also recently made changes to their positions in ODD. Alpha DNA Investment Management LLC purchased a new stake in shares of Oddity Tech in the second quarter worth $409,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Oddity Tech in the second quarter worth $6,744,000. Hood River Capital Management LLC purchased a new stake in shares of Oddity Tech in the second quarter worth $23,397,000. Sei Investments Co. raised its position in shares of Oddity Tech by 36.5% in the second quarter. Sei Investments Co. now owns 24,514 shares of the company’s stock worth $962,000 after buying an additional 6,556 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Oddity Tech in the second quarter worth $102,000. 35.88% of the stock is owned by institutional investors.

Oddity Tech Stock Up 3.4 %

NASDAQ ODD opened at $41.18 on Friday. The stock’s 50-day simple moving average is $37.72 and its two-hundred day simple moving average is $38.31. Oddity Tech Ltd. has a twelve month low of $24.12 and a twelve month high of $50.36. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 1.21 and a beta of 4.49.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.58 by $0.24. The firm had revenue of $192.77 million for the quarter, compared to the consensus estimate of $188.49 million. Oddity Tech had a return on equity of 26.66% and a net margin of 14.66%. The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, equities analysts expect that Oddity Tech Ltd. will post 1.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their price objective on Oddity Tech from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.83.

Oddity Tech 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.