Insider Selling: e.l.f. Beauty (NYSE:ELF) SVP Sells 7,913 Shares of Stock

Key Points

• Joshua Allen Franks, Senior Vice President of e.l.f. Beauty, sold 7,913 shares for $1,147,385, resulting in a 7.38% reduction in his ownership.
• e.l.f. Beauty reported a 9.0% year-over-year revenue increase in their latest quarterly earnings, with earnings per share at $0.89, exceeding expectations.
• A significant portion of e.l.f. Beauty's stock, 92.44%, is held by institutional investors, indicating strong hedge fund interest in the company.

e.l.f. Beauty (NYSE:ELF - Get Free Report) SVP Joshua Allen Franks sold 7,913 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the transaction, the senior vice president owned 99,369 shares of the company's stock, valued at approximately $14,408,505. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF traded down $2.56 during trading hours on Monday, hitting $137.40. 1,572,334 shares of the company's stock traded hands, compared to its average volume of 1,748,969. e.l.f. Beauty has a 52 week low of $49.40 and a 52 week high of $150.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The company's fifty day simple moving average is $123.15 and its two-hundred day simple moving average is $98.41. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 64.20, a price-to-earnings-growth ratio of 3.25 and a beta of 1.59.

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

Analyst Upgrades and Downgrades

ELF has been the subject of several recent analyst reports. Jefferies Financial Group set a $115.00 target price on shares of e.l.f. Beauty and gave the stock a "buy" rating in a report on Thursday, May 29th. Raymond James Financial reiterated a "strong-buy" rating and issued a $155.00 target price (up from $140.00) on shares of e.l.f. Beauty in a report on Monday, September 8th. Piper Sandler initiated coverage on shares of e.l.f. Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $150.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Truist Financial raised their target price on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.40.

Institutional Trading of e.l.f. Beauty

A number of hedge funds have recently made changes to their positions in ELF. Marshall Wace LLP purchased a new stake in shares of e.l.f. Beauty in the second quarter worth approximately $118,058,000. Atreides Management LP purchased a new stake in shares of e.l.f. Beauty in the second quarter worth approximately $61,479,000. Champlain Investment Partners LLC lifted its position in shares of e.l.f. Beauty by 19.7% in the first quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock worth $167,337,000 after purchasing an additional 438,575 shares in the last quarter. Man Group plc purchased a new stake in shares of e.l.f. Beauty in the second quarter worth approximately $52,316,000. Finally, Prime Capital Management Co Ltd lifted its position in shares of e.l.f. Beauty by 167.8% in the first quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock worth $37,959,000 after purchasing an additional 378,826 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.