e.l.f. Beauty, Inc. (NYSE:ELF) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC lowered its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,263 shares of the company’s stock after selling 1,642 shares during the period. Covenant Asset Management LLC’s holdings in e.l.f. Beauty were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ELF. Wilmington Savings Fund Society FSB acquired a new stake in shares of e.l.f. Beauty during the 3rd quarter worth approximately $25,000. Planning Capital Management Corp increased its holdings in e.l.f. Beauty by 1,855.0% in the 3rd quarter. Planning Capital Management Corp now owns 391 shares of the company’s stock valued at $43,000 after purchasing an additional 371 shares during the last quarter. nVerses Capital LLC acquired a new stake in e.l.f. Beauty in the 3rd quarter valued at approximately $44,000. Peterson Financial Group Inc. acquired a new stake in e.l.f. Beauty in the 3rd quarter valued at approximately $45,000. Finally, Financial Life Planners acquired a new stake in e.l.f. Beauty in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Activity at e.l.f. Beauty

In related news, Director Maureen C. Watson sold 785 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $130.00, for a total value of $102,050.00. Following the completion of the sale, the director now directly owns 1,888 shares of the company’s stock, valued at $245,440. The trade was a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Milsten sold 530 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $72,928.00. Following the completion of the sale, the insider now directly owns 68,853 shares of the company’s stock, valued at $9,474,172.80. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,205 shares of company stock valued at $297,442 over the last ninety days. Insiders own 3.50% of the company’s stock.

e.l.f. Beauty Price Performance

Shares of ELF opened at $72.97 on Friday. e.l.f. Beauty, Inc. has a 1-year low of $63.50 and a 1-year high of $221.83. The stock has a market cap of $4.11 billion, a PE ratio of 43.18, a price-to-earnings-growth ratio of 1.54 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. The firm has a fifty day moving average price of $117.99 and a 200 day moving average price of $125.12.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 17.35%. As a group, sell-side analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $90.00 target price (down previously from $150.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Piper Sandler dropped their target price on shares of e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of e.l.f. Beauty in a research note on Thursday, December 12th. They issued a “hold” rating and a $133.00 price target for the company. Raymond James dropped their price target on shares of e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Finally, Robert W. Baird dropped their price target on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.00.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.