Atreides Management LP Takes $73.07 Million Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Atreides Management LP acquired a new stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 187,780 shares of the specialty retailer’s stock, valued at approximately $73,069,000. Ulta Beauty makes up about 1.9% of Atreides Management LP’s investment portfolio, making the stock its 17th largest position. Atreides Management LP owned 0.40% of Ulta Beauty as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares in the last quarter. Innealta Capital LLC acquired a new stake in Ulta Beauty in the second quarter valued at approximately $32,000. Paladin Wealth LLC acquired a new stake in Ulta Beauty in the third quarter valued at approximately $32,000. Oakworth Capital Inc. acquired a new stake in Ulta Beauty in the second quarter valued at approximately $36,000. Finally, TruNorth Capital Management LLC acquired a new stake in Ulta Beauty in the second quarter valued at approximately $39,000. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ULTA has been the subject of several recent analyst reports. Loop Capital lowered their target price on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. TD Cowen lowered their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. DA Davidson lowered their price objective on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, August 30th. StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $422.58.

Ulta Beauty Trading Up 3.0 %

NASDAQ ULTA opened at $386.64 on Monday. The business’s 50-day moving average price is $374.12 and its 200 day moving average price is $376.18. Ulta Beauty, Inc. has a twelve month low of $318.17 and a twelve month high of $574.76. The company has a market capitalization of $18.22 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.22 and a beta of 1.33.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the company posted $6.02 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts predict that Ulta Beauty, Inc. will post 23.07 EPS for the current year.

About Ulta Beauty

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.