Bank of America Corp DE Cuts Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Bank of America Corp DE lowered its holdings in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 437,051 shares of the company's stock after selling 27,616 shares during the period. Bank of America Corp DE owned approximately 0.78% of e.l.f. Beauty worth $54,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. increased its position in e.l.f. Beauty by 51.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company's stock worth $1,005,584,000 after purchasing an additional 2,703,742 shares in the last quarter. Vanguard Group Inc. raised its holdings in e.l.f. Beauty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock worth $690,174,000 after buying an additional 68,103 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of e.l.f. Beauty by 40.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company's stock valued at $289,437,000 after purchasing an additional 669,321 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of e.l.f. Beauty by 99.7% in the fourth quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company's stock valued at $279,531,000 after purchasing an additional 1,111,550 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in e.l.f. Beauty by 17.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company's stock worth $222,541,000 after buying an additional 264,296 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Insider Activity at e.l.f. Beauty

In other news, Director Maureen C. Watson sold 4,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $67.39, for a total transaction of $269,560.00. Following the sale, the director now owns 1,888 shares in the company, valued at approximately $127,232.32. The trade was a 67.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tarang Amin sold 97,915 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the sale, the chief executive officer now owns 181,289 shares in the company, valued at approximately $9,673,581.04. This trade represents a 35.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,618 shares of company stock worth $10,974,536 over the last quarter. Corporate insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ELF shares. Truist Financial cut their target price on shares of e.l.f. Beauty from $100.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their target price on shares of e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. DA Davidson lowered their target price on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Robert W. Baird raised their target price on shares of e.l.f. Beauty from $85.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, B. Riley reaffirmed a "buy" rating and issued a $90.00 target price (down from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Five research 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $112.47.

e.l.f. Beauty Trading Up 1.4%

NYSE:ELF traded up $1.06 during trading hours on Friday, hitting $79.24. The company had a trading volume of 1,740,390 shares, compared to its average volume of 2,409,852. The company has a market capitalization of $4.47 billion, a PE ratio of 46.89, a price-to-earnings-growth ratio of 6.76 and a beta of 1.31. The stock has a 50-day moving average price of $62.23 and a 200 day moving average price of $93.50. e.l.f. Beauty, Inc. has a 52 week low of $49.40 and a 52 week high of $219.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17.

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.