Catterton Management Company L.L.C. Trims Position in Oddity Tech Ltd. (NASDAQ:ODD)

Catterton Management Company L.L.C. lessened its holdings in shares of Oddity Tech Ltd. (NASDAQ:ODD) by 47.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,037,472 shares of the company’s stock after selling 3,602,885 shares during the quarter. Oddity Tech makes up 2.1% of Catterton Management Company L.L.C.’s portfolio, making the stock its 2nd biggest position. Catterton Management Company L.L.C. owned approximately 0.07% of Oddity Tech worth $169,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its position in shares of Oddity Tech by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,283,074 shares of the company’s stock worth $53,915,000 after acquiring an additional 11,716 shares in the last quarter. Ibex Investors LLC boosted its stake in Oddity Tech by 46.5% in the 4th quarter. Ibex Investors LLC now owns 315,000 shares of the company’s stock worth $13,236,000 after purchasing an additional 100,000 shares during the period. State Street Corp increased its holdings in Oddity Tech by 5.7% during the 3rd quarter. State Street Corp now owns 236,199 shares of the company’s stock worth $9,538,000 after purchasing an additional 12,700 shares in the last quarter. Norges Bank bought a new position in Oddity Tech during the 4th quarter worth about $9,470,000. Finally, Marshall Wace LLP raised its stake in shares of Oddity Tech by 53.6% in the 4th quarter. Marshall Wace LLP now owns 194,901 shares of the company’s stock valued at $8,190,000 after purchasing an additional 68,020 shares during the period. 35.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ODD. KeyCorp decreased their price objective on Oddity Tech from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Oddity Tech in a research note on Friday, January 31st. They set an “overweight” rating and a $55.00 price target for the company. Bank of America lifted their price objective on shares of Oddity Tech from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Barclays raised their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.14.

Oddity Tech Price Performance

Oddity Tech stock opened at $40.46 on Thursday. Oddity Tech Ltd. has a fifty-two week low of $30.34 and a fifty-two week high of $51.00. The firm has a market capitalization of $2.26 billion, a PE ratio of 24.67, a P/E/G ratio of 1.48 and a beta of 3.73. The company’s 50-day moving average is $43.42 and its 200-day moving average is $43.47.

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.