NewEdge Advisors LLC Lowers Position in e.l.f. Beauty, Inc. (NYSE:ELF)

NewEdge Advisors LLC reduced its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 36.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,803 shares of the company’s stock after selling 2,746 shares during the period. NewEdge Advisors LLC’s holdings in e.l.f. Beauty were worth $1,012,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $6,659,000. Wellington Management Group LLP increased its holdings in e.l.f. Beauty by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock valued at $366,744,000 after purchasing an additional 126,231 shares during the last quarter. Swiss National Bank raised its position in e.l.f. Beauty by 0.5% in the first quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $21,348,000 after purchasing an additional 500 shares during the period. Nia Impact Advisors LLC acquired a new position in e.l.f. Beauty during the second quarter worth $1,794,000. Finally, Private Advisor Group LLC purchased a new position in shares of e.l.f. Beauty during the first quarter worth $417,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ELF. Bank of America reduced their price target on shares of 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. DA Davidson reissued a “buy” rating and set a $223.00 target price on shares of e.l.f. Beauty in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price objective on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. B. Riley began coverage on e.l.f. Beauty in a report on Tuesday, September 10th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.57.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares in the company, valued at $14,465,883.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the sale, the senior vice president now owns 71,986 shares in the company, valued at $14,489,342.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,446 shares of company stock worth $3,984,609. 5.20% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Down 4.1 %

Shares of e.l.f. Beauty stock opened at $101.51 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77. The company has a market cap of $5.68 billion, a P/E ratio of 45.73, a PEG ratio of 2.33 and a beta of 1.43. e.l.f. Beauty, Inc. has a one year low of $88.47 and a one year high of $221.83. The firm has a fifty day moving average of $139.94 and a two-hundred day moving average of $167.71.

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

e.l.f. Beauty Company 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.