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

by · The Cerbat Gem

ODDITY Tech Ltd. (NASDAQ:ODD – Get Free Report)’s share price fell 4.8% during trading on Friday following insider selling activity. The company traded as low as $13.34 and last traded at $13.4450. 108,032 shares changed hands during trading, a decline of 93% from the average session volume of 1,623,164 shares. The stock had previously closed at $14.13.

Specifically, CFO Mann Drucker sold 7,717 shares of ODDITY Tech stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total transaction of $116,449.53. Following the completion of the sale, the chief financial officer owned 116,135 shares of the company’s stock, valued at approximately $1,752,477.15. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $14.27, for a total transaction of $175,321.22. Following the completion of the transaction, the chief financial officer directly owned 116,135 shares in the company, valued at approximately $1,657,246.45. This represents a 9.57% decrease in their ownership of the stock. 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 other news, CFO Mann Drucker sold 5,503 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $15.00, for a total value of $82,545.00. Following the transaction, the chief financial officer owned 104,492 shares of the company’s stock, valued at approximately $1,567,380. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.

Analysts Set New Price Targets

A number of brokerages have commented on ODD. Morgan Stanley decreased their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Truist Financial upped their price target on shares of ODDITY Tech from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday. The Goldman Sachs Group cut shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $16.00 to $8.00 in a research note on Wednesday, June 3rd. KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $10.25 price target on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Nine analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, ODDITY Tech presently has an average rating of “Reduce” and an average target price of $25.75.

View Our Latest Stock Analysis on ODD

ODDITY Tech Price Performance

The stock has a market cap of $770.13 million, a P/E ratio of 16.91 and a beta of 2.38. The company’s 50 day moving average price is $15.06 and its 200-day moving average price is $14.74. 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 – Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was down 26.2% on a year-over-year basis. As a group, sell-side analysts expect that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Institutional Trading of ODDITY Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in ODDITY Tech by 16.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock valued at $3,293,000 after acquiring an additional 10,582 shares during the last quarter. Geode Capital Management LLC grew its stake in ODDITY Tech by 12.9% during the second quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock worth $5,660,000 after purchasing an additional 8,561 shares during the period. Legal & General Group Plc bought a new stake in ODDITY Tech in the second quarter worth approximately $71,000. American Century Companies Inc. boosted its holdings in shares of ODDITY Tech by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock worth $1,079,000 after buying an additional 2,105 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of ODDITY Tech during the 2nd quarter worth approximately $327,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Company Profile

(Get Free Report)

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.

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