Investors Purchase Large Volume of ODDITY Tech Call Options (NASDAQ:ODD)

ODDITY Tech Ltd. (NASDAQ:ODD) was the recipient of unusually large options trading on Wednesday. Investors bought 9,433 call options on the stock. This is an increase of 376% compared to the typical daily volume of 1,981 call options.

Insider Activity

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the transaction, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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. Insiders sold 128,805 shares of company stock worth $1,932,910 in the last ninety days.

Institutional Investors Weigh In On ODDITY Tech

A number of large investors have recently added to or reduced their stakes in the company. Avidity Partners Management LP bought a new stake in ODDITY Tech during the first quarter worth about $937,000. Segall Bryant & Hamill LLC bought a new position in shares of ODDITY Tech during the 1st quarter valued at about $488,000. Amundi raised its holdings in shares of ODDITY Tech by 17.8% during the 1st quarter. Amundi now owns 434,945 shares of the company’s stock valued at $5,820,000 after buying an additional 65,647 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of ODDITY Tech during the 1st quarter valued at about $1,275,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in ODDITY Tech in the 1st quarter worth approximately $405,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Analyst Upgrades and Downgrades

ODD has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Barclays dropped their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 3rd. Truist Financial cut their price objective on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, June 3rd. Zacks Research lowered ODDITY Tech from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Eight research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Stock Up 5.2%

ODD stock opened at $17.90 on Friday. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $77.83. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 22.66 and a beta of 2.37. The company’s 50 day moving average is $13.11 and its 200 day moving average is $21.48.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the company earned $0.69 EPS. ODDITY Tech’s quarterly revenue was down 26.2% on a year-over-year basis. Sell-side analysts predict that ODDITY Tech will post -0.46 EPS for the current fiscal year.

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.