e.l.f. Beauty (NYSE:ELF) Sees Unusually-High Trading Volume

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) saw unusually-strong trading volume on Friday . Approximately 773,665 shares changed hands during trading, a decline of 55% from the previous session’s volume of 1,721,351 shares.The stock last traded at $121.17 and had previously closed at $114.67.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America decreased their target price on e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Canaccord Genuity Group upped their price objective on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Truist Financial raised their target price on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. B. Riley initiated coverage on shares of e.l.f. Beauty in a report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $260.00 price objective on shares of e.l.f. Beauty in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.33.

e.l.f. Beauty Price Performance

The firm has a market capitalization of $6.58 billion, a P/E ratio of 52.54, a PEG ratio of 2.37 and a beta of 1.44. The company has a fifty day moving average of $162.94 and a 200 day moving average of $177.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The company had revenue of $324.48 million for the quarter, compared to analyst estimates of $303.60 million. Sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares of the company’s stock, valued at approximately $14,489,342.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, the chief executive officer now owns 214,507 shares in the company, valued at $37,538,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at approximately $14,489,342.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,304 shares of company stock worth $3,864,492. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ELF. Baillie Gifford & Co. bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $801,693,000. Clearbridge Investments LLC bought a new stake in e.l.f. Beauty during the 1st quarter valued at $133,940,000. Norges Bank acquired a new position in e.l.f. Beauty during the fourth quarter worth $95,611,000. 1832 Asset Management L.P. bought a new position in shares of e.l.f. Beauty in the first quarter valued at $61,299,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of e.l.f. Beauty by 81.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 468,670 shares of the company’s stock valued at $98,758,000 after buying an additional 210,873 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

About e.l.f. Beauty

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.