Ulta Beauty’s stock took a 5% hit at the end of last week following a regulatory filing revealing that Berkshire Hathaway had significantly reduced its stake in the beauty retailer.
According to a report by UK Investing, Berkshire Hathaway had initially acquired 690,106 shares in Ulta during the second quarter but sold off the majority by the end of the third quarter.
Market analysts suggest that a sell-off by a prominent investor like Berkshire Hathaway can raise concerns, potentially signaling underlying issues with the company.
Related Topics:
