Insider Selling: Ulta Beauty, Inc. (NASDAQ:ULTA) Insider Sells $252,642.00 in Stock

Ulta Beauty, Inc. (NASDAQ:ULTA) insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the sale, the insider now owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ulta Beauty Trading Down 0.0 %

Shares of ULTA stock opened at $385.87 on Friday. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.68 and a beta of 1.36. The stock has a 50 day simple moving average of $392.42 and a 200-day simple moving average of $462.92. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.88 EPS. On average, equities analysts forecast that Ulta Beauty, Inc. will post 25.76 earnings per share for the current fiscal year.

Ulta Beauty declared that its Board of Directors has initiated a share repurchase program on Thursday, March 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Ulta Beauty

A number of large investors have recently modified their holdings of ULTA. Morgan Stanley increased its stake in Ulta Beauty by 56.7% in the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after purchasing an additional 556,809 shares in the last quarter. Norges Bank purchased a new position in Ulta Beauty in the 4th quarter valued at approximately $263,192,000. Global Assets Advisory LLC purchased a new position in Ulta Beauty in the 1st quarter valued at approximately $176,753,000. International Assets Investment Management LLC increased its stake in Ulta Beauty by 45,740.3% in the 4th quarter. International Assets Investment Management LLC now owns 291,544 shares of the specialty retailer’s stock valued at $142,854,000 after purchasing an additional 290,908 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Ulta Beauty by 177.8% in the 4th quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock valued at $199,596,000 after purchasing an additional 260,740 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ULTA has been the topic of several research analyst reports. The Goldman Sachs Group cut their price target on shares of Ulta Beauty from $605.00 to $476.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. TD Cowen dropped their price target on Ulta Beauty from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Morgan Stanley lifted their price target on Ulta Beauty from $480.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. Bank of America reduced their price objective on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $503.87.

Ulta Beauty Company 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.