Clearbridge Investments LLC Makes New $27.06 Million Investment in Oddity Tech Ltd. (NASDAQ:ODD)

Clearbridge Investments LLC bought a new position in shares of Oddity Tech Ltd. (NASDAQ:ODD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 581,468 shares of the company’s stock, valued at approximately $27,056,000.

A number of other institutional investors have also recently bought and sold shares of ODD. M&T Bank Corp acquired a new position in shares of Oddity Tech in the 4th quarter valued at $203,000. Greycroft LP acquired a new position in Oddity Tech in the 3rd quarter worth $227,000. Legato Capital Management LLC acquired a new position in Oddity Tech in the 4th quarter worth $336,000. New York State Common Retirement Fund acquired a new position in Oddity Tech in the 3rd quarter worth $507,000. Finally, Federated Hermes Inc. acquired a new position in Oddity Tech in the 3rd quarter worth $510,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Oddity Tech Price Performance

Shares of Oddity Tech stock opened at $36.67 on Friday. The firm has a market capitalization of $2.09 billion and a P/E ratio of 30.56. The company’s 50 day moving average price is $37.86 and its two-hundred day moving average price is $39.80. Oddity Tech Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $56.00.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $97.25 million for the quarter, compared to analyst estimates of $86.38 million. Oddity Tech had a net margin of 12.97% and a return on equity of 26.10%. On average, analysts expect that Oddity Tech Ltd. will post 1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ODD shares. Morgan Stanley boosted their price target on shares of Oddity Tech from $35.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $66.00 target price on shares of Oddity Tech in a report on Thursday, March 7th. Barclays dropped their target price on shares of Oddity Tech from $44.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Bank of America upped their target price on shares of Oddity Tech from $44.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Evercore ISI initiated coverage on shares of Oddity Tech in a report on Thursday, April 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.38.

Oddity Tech Company 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.