Grandeur Peak Global Advisors LLC Sells 8,649 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Grandeur Peak Global Advisors LLC lowered its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 71.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,478 shares of the specialty retailer’s stock after selling 8,649 shares during the quarter. Grandeur Peak Global Advisors LLC’s holdings in Ulta Beauty were worth $1,513,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC raised its stake in Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after buying an additional 34 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 50 shares during the period. Sunbelt Securities Inc. raised its position in shares of Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 45 shares in the last quarter. Edge Capital Group LLC purchased a new stake in shares of Ulta Beauty during the 4th quarter worth $33,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Ulta Beauty during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ULTA shares. Morgan Stanley reduced their target price on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Oppenheimer boosted their price objective on shares of Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Citigroup lowered their target price on shares of Ulta Beauty from $405.00 to $365.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Piper Sandler reduced their price target on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, Bank of America decreased their price objective on Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and an average price target of $427.61.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $361.46 on Friday. The firm’s 50 day simple moving average is $360.13 and its 200-day simple moving average is $383.45. Ulta Beauty, Inc. has a 12 month low of $309.01 and a 12 month high of $460.00. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.89 and a beta of 1.16.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the firm posted $8.08 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. Analysts anticipate that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jodi J. Caro sold 902 shares of Ulta Beauty stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the sale, the insider now owns 7,632 shares of the company’s stock, valued at approximately $2,817,429.12. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

Ulta Beauty 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.