ODDITY Tech (NASDAQ:ODD) Trading Down 4.8% After Insider Selling

ODDITY Tech Ltd. (NASDAQ:ODD) shares were down 4.8% on Friday following insider selling activity. The company traded as low as $13.34 and last traded at $13.4450. Approximately 108,032 shares traded hands during trading, a decline of 93% from the average daily volume of 1,623,164 shares. The stock had previously closed at $14.13.

Specifically, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of the sale, the chief financial officer directly owned 116,135 shares in the company, valued at approximately $1,752,477.15. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mann Drucker sold 12,286 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $14.27, for a total transaction of $175,321.22. Following the transaction, the chief financial officer directly owned 116,135 shares in the company, valued at $1,657,246.45. This trade represents a 9.57% decrease in their position. The SEC filing for this sale provides additional information. 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 related news, CFO Mann Drucker sold 5,503 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $15.00, for a total value of $82,545.00. Following the completion of the sale, the chief financial officer directly owned 104,492 shares of the company’s stock, valued at $1,567,380. The trade was a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.

Wall Street Analysts Forecast Growth

ODD has been the subject of a number of research reports. Morgan Stanley reduced their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. The Goldman Sachs Group downgraded shares of ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $16.00 to $8.00 in a report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Nine research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $25.75.

ODDITY Tech Price Performance

The business’s 50-day moving average price is $15.06 and its 200 day moving average price is $14.74. The company has a market capitalization of $770.13 million, a P/E ratio of 16.91 and a beta of 2.38. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96.

ODDITY Tech (NASDAQ:ODD) last posted its 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). The firm had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The business’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. Analysts anticipate that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On ODDITY Tech

Institutional investors and hedge funds have recently made changes to their positions in the business. Wexford Capital LP bought a new position in ODDITY Tech in the 3rd quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ODDITY Tech by 134.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after purchasing an additional 651 shares in the last quarter. Legal & General Group Plc bought a new position in shares of ODDITY Tech in the second quarter worth approximately $71,000. SG Americas Securities LLC bought a new position in shares of ODDITY Tech in the first quarter worth approximately $104,000. Finally, Headlands Technologies LLC purchased a new stake in ODDITY Tech in the second quarter valued at approximately $108,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

About ODDITY Tech

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.