Assenagon Asset Management S.A. has significantly increased its investment in Ulta Beauty Inc. by purchasing an additional 17,365 shares during the third quarter of 2023, marking a 90.1% increase in its holdings. According to a report from HoldingsChannel.com, this move has brought Assenagon’s total ownership to 36,647 shares, valued at approximately $20.04 million as per its latest filing with the Securities and Exchange Commission.
Several other institutional investors have also adjusted their stakes in Ulta Beauty. For instance, Traphagen Investment Advisors LLC raised its position by 9.3%, acquiring 51 additional shares and bringing its total to 601 shares, now valued at $329,000. Meanwhile, Aaron Wealth Advisors LLC expanded its investment by an impressive 215.1%, owning 3,327 shares worth $1.82 million after buying 2,271 shares in the same quarter.
GAMMA Investing LLC and Rowlandmiller & PARTNERS.ADV also increased their holdings, with GAMMA adding 12.8% for a total of 2,093 shares valued at $1.14 million, and Rowlandmiller growing its stake by 9.2% to 1,567 shares worth $857,000. Additionally, Caldwell Trust Co entered the market with a new stake worth about $78,000 in the second quarter. Currently, institutional investors hold approximately 90.39% of Ulta Beauty’s stock.
Current Stock Performance and Analyst Ratings
As of the latest trading session, Ulta Beauty shares opened at $597.88. The stock has shown strong performance with a 50-day moving average of $539.95 and a 200-day moving average of $517.75. Over the past year, Ulta’s stock has reached a low of $309.01 and a high of $611.90. The company maintains a market capitalization of $26.52 billion, with a price-to-earnings ratio of 22.92 and a price-to-earnings-growth ratio of 3.14.
Recent analyst ratings indicate a generally positive outlook for Ulta Beauty. On December 8, 2023, Cowen upgraded the stock from a “hold” to a “buy” rating. Similarly, Argus elevated its rating from “hold” to “buy” with a price target set at $570.00. B. Riley maintained a “neutral” rating, while Wall Street Zen downgraded the stock from “buy” to “hold”. Barclays reaffirmed its “overweight” rating with a price objective of $647.00. Overall, data from MarketBeat shows that out of 27 analysts, sixteen recommend buying, ten suggest holding, and one rates the stock as a sell, leading to an average target price of $576.50.
About Ulta Beauty
Ulta Beauty, Inc. is a prominent U.S.-based retailer specializing in beauty products and services. The company combines traditional retail with a robust e-commerce platform, offering a wide range of cosmetics, fragrances, skincare, haircare, and beauty tools. Ulta also provides full-service salon treatments in many locations, positioning itself as a comprehensive destination for beauty enthusiasts. Its diverse product offerings cater to various consumer preferences and price points, making it a key player in the beauty retail sector.
For those interested in tracking further developments, HoldingsChannel.com provides updates on the latest 13F filings and insider trades for Ulta Beauty Inc.
