5,725 Shares in e.l.f. Beauty $ELF Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. acquired 5,725 shares of e.l.f. Beauty, valued at approximately $712,000, marking a significant investment in the company.
• e.l.f. Beauty's CEO, Tarang Amin, sold over 116,000 shares for approximately $15.4 million, indicating a dramatic 58.71% decrease in his ownership stake.
• Institutions and hedge funds hold 92.44% of e.l.f. Beauty's stock, highlighting strong institutional interest in the company.

First Citizens Bank & Trust Co. purchased a new stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,725 shares of the company's stock, valued at approximately $712,000.

Several other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new stake in shares of e.l.f. Beauty in the 1st quarter valued at approximately $33,000. Parallel Advisors LLC raised its position in e.l.f. Beauty by 167.9% during the second quarter. Parallel Advisors LLC now owns 627 shares of the company's stock worth $78,000 after acquiring an additional 393 shares in the last quarter. Larson Financial Group LLC lifted its stake in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after acquiring an additional 244 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of e.l.f. Beauty by 577.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after acquiring an additional 647 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in shares of e.l.f. Beauty in the 2nd quarter valued at about $106,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 116,315 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $132.24, for a total transaction of $15,381,495.60. Following the transaction, the chief executive officer directly owned 81,818 shares of the company's stock, valued at approximately $10,819,612.32. This trade represents a 58.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kory Marchisotto sold 10,812 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $1,621,800.00. Following the completion of the sale, the insider owned 133,976 shares of the company's stock, valued at approximately $20,096,400. The trade was a 7.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,060 shares of company stock worth $40,994,733. 3.90% of the stock is currently owned by insiders.

e.l.f. Beauty Stock Performance

ELF opened at $122.84 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. The business has a fifty day simple moving average of $131.82 and a 200 day simple moving average of $109.44. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $150.99. The company has a market capitalization of $7.29 billion, a PE ratio of 72.26, a price-to-earnings-growth ratio of 2.91 and a beta of 1.57.

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, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $353.74 million for the quarter, compared to analysts' expectations of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS. Research analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of e.l.f. Beauty from $137.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. B. Riley upped their price objective on e.l.f. Beauty from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Morgan Stanley lifted their target price on e.l.f. Beauty from $134.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Piper Sandler reissued an "overweight" rating on shares of e.l.f. Beauty in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on e.l.f. Beauty from $130.00 to $168.00 and gave the company an "overweight" rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $142.73.

e.l.f. Beauty 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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