Belpointe Asset Management LLC Sells 759 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Belpointe Asset Management LLC lessened its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 34.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,413 shares of the specialty retailer’s stock after selling 759 shares during the period. Belpointe Asset Management LLC’s holdings in Ulta Beauty were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Ulta Beauty by 14.4% during the third quarter. Wellington Management Group LLP now owns 5,635 shares of the specialty retailer’s stock valued at $2,193,000 after buying an additional 710 shares during the period. Virtu Financial LLC raised its position in shares of Ulta Beauty by 50.3% in the 3rd quarter. Virtu Financial LLC now owns 5,086 shares of the specialty retailer’s stock worth $1,979,000 after acquiring an additional 1,702 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the period. Diamant Asset Management Inc. boosted its position in shares of Ulta Beauty by 2.1% during the third quarter. Diamant Asset Management Inc. now owns 2,920 shares of the specialty retailer’s stock valued at $1,136,000 after purchasing an additional 60 shares in the last quarter. Finally, Rule One Partners LLC purchased a new stake in Ulta Beauty in the third quarter worth $2,179,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

ULTA has been the topic of a number of research reports. B. Riley dropped their target price on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Piper Sandler decreased their target price on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. BMO Capital Markets dropped their price target on Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group raised Ulta Beauty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $384.00 to $423.00 in a research report on Tuesday, April 1st. Finally, DA Davidson reissued a “buy” rating and issued a $415.00 target price on shares of Ulta Beauty in a report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $427.61.

Ulta Beauty Price Performance

Shares of ULTA opened at $349.59 on Thursday. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $460.00. The business has a fifty day moving average of $357.86 and a 200 day moving average of $382.63. The firm has a market capitalization of $15.84 billion, a P/E ratio of 13.99, a PEG ratio of 0.89 and a beta of 1.16.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating the consensus estimate of $7.13 by $1.33. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.47 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.08 EPS. Analysts expect that Ulta Beauty, Inc. will post 23.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jodi J. Caro sold 902 shares of Ulta Beauty stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now directly owns 7,632 shares in the company, valued at approximately $2,817,429.12. The trade was a 10.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Ulta Beauty Profile

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.