Capital International Investors Makes New $45.81 Million Investment in Oddity Tech Ltd. (NASDAQ:ODD)

Capital International Investors bought a new position in Oddity Tech Ltd. (NASDAQ:ODD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,054,343 shares of the company’s stock, valued at approximately $45,811,000. Capital International Investors owned approximately 1.85% of Oddity Tech at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its position in Oddity Tech by 69.7% in the fourth quarter. Parallel Advisors LLC now owns 594 shares of the company’s stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. M&T Bank Corp bought a new position in Oddity Tech in the fourth quarter worth $203,000. Janney Montgomery Scott LLC bought a new position in Oddity Tech in the first quarter worth $301,000. Eagle Global Advisors LLC bought a new position in Oddity Tech in the fourth quarter worth $423,000. Finally, Oppenheimer & Co. Inc. bought a new position in Oddity Tech in the first quarter worth $496,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Evercore ISI assumed coverage on Oddity Tech in a research note on Thursday, April 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Barclays dropped their price objective on Oddity Tech from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Finally, Truist Financial reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oddity Tech in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Oddity Tech presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Oddity Tech Stock Performance

Shares of NASDAQ ODD traded up $0.44 during trading on Friday, hitting $41.60. The company had a trading volume of 577,997 shares, compared to its average volume of 346,135. The stock has a 50 day simple moving average of $39.57 and a 200 day simple moving average of $40.15. The firm has a market capitalization of $2.37 billion and a P/E ratio of 34.67. Oddity Tech Ltd. has a 12 month low of $24.12 and a 12 month high of $56.00.

Oddity Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.12. The company had revenue of $211.63 million for the quarter, compared to the consensus estimate of $205.55 million. Oddity Tech had a return on equity of 26.10% and a net margin of 12.97%. As a group, analysts predict that Oddity Tech Ltd. will post 1.34 EPS for the current year.

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.