Allspring Global Investments Holdings LLC Acquires 261,707 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Allspring Global Investments Holdings LLC lifted its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 55.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 730,377 shares of the company’s stock after acquiring an additional 261,707 shares during the period. Allspring Global Investments Holdings LLC’s holdings in e.l.f. Beauty were worth $79,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its stake in shares of e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock valued at $512,000 after buying an additional 75 shares during the period. Hanseatic Management Services Inc. grew its stake in shares of e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock valued at $950,000 after buying an additional 77 shares during the period. GAMMA Investing LLC grew its stake in shares of e.l.f. Beauty by 33.2% in the 1st quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock valued at $69,000 after buying an additional 88 shares during the period. American International Group Inc. grew its stake in shares of e.l.f. Beauty by 0.3% in the 4th quarter. American International Group Inc. now owns 29,435 shares of the company’s stock valued at $4,249,000 after buying an additional 90 shares during the period. Finally, Guardian Asset Advisors LLC grew its stake in shares of e.l.f. Beauty by 6.5% in the 1st quarter. Guardian Asset Advisors LLC now owns 1,485 shares of the company’s stock valued at $291,000 after buying an additional 90 shares during the period. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $108.20 on Monday. e.l.f. Beauty, Inc. has a 52 week low of $88.47 and a 52 week high of $221.83. The company’s 50 day moving average price is $126.68 and its two-hundred day moving average price is $161.63. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. The stock has a market cap of $6.05 billion, a P/E ratio of 48.74, a P/E/G ratio of 2.19 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.67 by $0.20. The firm had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. On average, equities analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ELF shares. Bank of America reduced their target price on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. TD Cowen cut their price target on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Morgan Stanley cut their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Truist Financial cut their price target on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price target on e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.21.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by insiders.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.