e.l.f. Beauty (NYSE:ELF) Shares Down 8.3% - Time to Sell?

Key Points

• e.l.f. Beauty's stock price dropped 8.3% to $132.99, with trading volume falling 48% from average levels.
• Analysts are somewhat optimistic, with several brokerages raising their target prices, the highest being $165.00 from Canaccord Genuity.
• Insiders have been selling shares, with one senior vice president selling 7,913 shares, reflecting a 7.38% decrease in their position.

e.l.f. Beauty (NYSE:ELF - Get Free Report)'s stock price fell 8.3% on Friday . The company traded as low as $135.00 and last traded at $132.99. 1,307,279 shares traded hands during trading, a decline of 48% from the average session volume of 2,497,755 shares. The stock had previously closed at $144.97.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ELF. UBS Group upped their target price on e.l.f. Beauty from $112.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday. Canaccord Genuity Group set a $165.00 target price on e.l.f. Beauty in a research report on Tuesday, September 9th. B. Riley upped their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Bank of America upped their target price on e.l.f. Beauty from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $155.00 target price (up from $140.00) on shares of e.l.f. Beauty in a research report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $142.07.

e.l.f. Beauty Price Performance

The firm has a market capitalization of $7.81 billion, a PE ratio of 77.49, a price-to-earnings-growth ratio of 3.37 and a beta of 1.57. The business has a 50-day moving average of $128.12 and a 200 day moving average of $104.21. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The business had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.e.l.f. Beauty's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. As a group, research analysts anticipate that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 7,913 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total value of $1,147,385.00. Following the completion of the transaction, the senior vice president owned 99,369 shares in the company, valued at $14,408,505. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mandy J. Fields sold 55,692 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $136.28, for a total value of $7,589,705.76. Following the transaction, the insider owned 64,154 shares of the company's stock, valued at $8,742,907.12. The trade was a 46.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,060 shares of company stock worth $40,994,733. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ELF. Marshall Wace LLP bought a new position in shares of e.l.f. Beauty during the 2nd quarter worth $118,058,000. Atreides Management LP bought a new position in shares of e.l.f. Beauty during the 2nd quarter worth $61,479,000. Champlain Investment Partners LLC grew its stake in shares of e.l.f. Beauty by 19.7% during the 1st quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock worth $167,337,000 after acquiring an additional 438,575 shares during the period. Man Group plc bought a new position in shares of e.l.f. Beauty during the 2nd quarter worth $52,316,000. Finally, Prime Capital Management Co Ltd grew its stake in shares of e.l.f. Beauty by 167.8% during the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock worth $37,959,000 after acquiring an additional 378,826 shares during the period. Institutional investors own 92.44% of the company's stock.

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.

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