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Ulta Beauty beat earnings estimates but saw major shareholder sell shares.
Ulta Beauty reported strong second-quarter earnings, beating expectations with $5.78 EPS and $2.79 billion in revenue, up 9.3% year-over-year.
Despite the positive results, Mediolanum International Funds Ltd reduced its stake by 37%, selling 6,514 shares.
Meanwhile, Handelsbanken Fonder AB increased its holding by 27.9%, and insider Mike C. Smith sold 500 shares.
The stock opened at $515.58, with a market cap of $23.12 billion and a consensus "Moderate Buy" rating.
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Ulta Beauty superó las estimaciones de ganancias, pero vio a sus principales accionistas vender acciones.