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Ulta Beauty Director Buys $87M In Shares, Sending Stock Higher

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Ulta Beauty Director Buys $87M In Shares, Sending Stock Higher

Ulta Beauty Inc (NASDAQ: ULTA) shares were trading higher Tuesday after a company director purchased approximately $87 million worth of shares in a series of recent transactions.

An SEC Form 4 filing shows that Charles Heilbronn purchased 243,849 shares worth $87 million over a period of three days.

On Sept. 29, Ulta Beauty shares also traded higher in what was potentially a rebound after the stock dropped approximately 25% in the past month.

On June 24, Ulta Beauty shares plunged below the $345 level after traders circulated an update from Amazon.com, Inc.(NASDAQ: AMZN)'s business blog announcing that professional beauty products are now available.

On Tuesday, Ulta Beauty shares were trading up 5.15% to $263.55 at the time of publication. 

The stock has a 52-week range between $368.83 and $224.43.

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