Ulta Beauty, Inc. (NASDAQ:ULTA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTAGet Rating) by 14.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,224 shares of the specialty retailer’s stock after selling 12,056 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Ulta Beauty worth $27,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Ulta Beauty during the fourth quarter worth about $202,400,000. BlackRock Inc. increased its stake in shares of Ulta Beauty by 11.4% during the fourth quarter. BlackRock Inc. now owns 4,234,911 shares of the specialty retailer’s stock worth $1,746,223,000 after purchasing an additional 434,595 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Ulta Beauty by 115.1% during the fourth quarter. 1832 Asset Management L.P. now owns 365,911 shares of the specialty retailer’s stock worth $149,625,000 after purchasing an additional 195,797 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Ulta Beauty by 435.9% during the fourth quarter. Marshall Wace LLP now owns 202,347 shares of the specialty retailer’s stock worth $83,439,000 after purchasing an additional 164,587 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Ulta Beauty by 5.3% during the fourth quarter. State Street Corp now owns 2,208,301 shares of the specialty retailer’s stock worth $910,571,000 after purchasing an additional 110,198 shares in the last quarter. 89.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Credit Suisse Group boosted their target price on shares of Ulta Beauty from $475.00 to $485.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 15th. Citigroup boosted their price target on shares of Ulta Beauty from $393.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, May 31st. StockNews.com upgraded Ulta Beauty from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler increased their price target on Ulta Beauty from $465.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, May 27th. Finally, Jefferies Financial Group upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and boosted their price objective for the company from $400.00 to $475.00 in a report on Friday, May 27th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ulta Beauty has a consensus rating of “Moderate Buy” and an average price target of $460.05.

Insider Buying and Selling at Ulta Beauty

In other news, Director George R. Mrkonic, Jr. sold 476 shares of Ulta Beauty stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $391.84, for a total transaction of $186,515.84. Following the sale, the director now owns 2,393 shares in the company, valued at $937,673.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director George R. Mrkonic, Jr. sold 476 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $391.84, for a total transaction of $186,515.84. Following the transaction, the director now directly owns 2,393 shares in the company, valued at $937,673.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Kecia Steelman sold 13,199 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $405.02, for a total transaction of $5,345,858.98. Following the completion of the sale, the chief operating officer now owns 16,627 shares of the company’s stock, valued at approximately $6,734,267.54. The disclosure for this sale can be found here. Insiders sold 46,207 shares of company stock worth $19,411,502 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $394.28 on Tuesday. Ulta Beauty, Inc. has a 1 year low of $330.80 and a 1 year high of $438.63. The company has a market capitalization of $20.43 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.82 and a beta of 1.45. The business has a 50-day moving average of $396.17 and a two-hundred day moving average of $387.50.

Ulta Beauty (NASDAQ:ULTAGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $1.86. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.12 billion. Ulta Beauty had a return on equity of 60.83% and a net margin of 12.03%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.10 earnings per share. As a group, equities research analysts expect that Ulta Beauty, Inc. will post 20.07 earnings per share for the current year.

Ulta Beauty Company Profile

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Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

Further Reading

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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