Allianz Asset Management GmbH Trims Holdings in e.l.f. Beauty (NYSE:ELF)

Key Points

• Allianz Asset Management GmbH has significantly decreased its holdings in e.l.f. Beauty, cutting its position by 67.1% in the 1st quarter, leaving it with just 23,078 shares valued at approximately $1.45 million.
• Analysts' price targets for e.l.f. Beauty have been raised by multiple firms, with Bank of America now targeting $135.00 per share, reflecting positive sentiment toward the stock.
• e.l.f. Beauty's stock has a market capitalization of $6.89 billion, and it showed a quarterly revenue increase of 3.6% year-over-year, reporting $332.65 million in revenue for the last quarter.

Allianz Asset Management GmbH cut its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 67.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,078 shares of the company's stock after selling 47,077 shares during the period. Allianz Asset Management GmbH's holdings in e.l.f. Beauty were worth $1,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELF. Peterson Wealth Services lifted its holdings in shares of e.l.f. Beauty by 77.9% in the first quarter. Peterson Wealth Services now owns 8,729 shares of the company's stock worth $548,000 after buying an additional 3,822 shares in the last quarter. 4WEALTH Advisors Inc. increased its holdings in e.l.f. Beauty by 89.8% during the 1st quarter. 4WEALTH Advisors Inc. now owns 8,096 shares of the company's stock worth $508,000 after acquiring an additional 3,831 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in e.l.f. Beauty during the 1st quarter worth approximately $69,000. South Dakota Investment Council lifted its stake in e.l.f. Beauty by 15.7% in the 1st quarter. South Dakota Investment Council now owns 40,571 shares of the company's stock worth $2,547,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC bought a new position in e.l.f. Beauty in the 1st quarter valued at $13,423,000. Institutional investors own 92.44% of the company's stock.

Insider Buying and Selling

In other news, insider Scott Milsten sold 1,442 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $114.78, for a total transaction of $165,512.76. Following the completion of the sale, the insider owned 117,394 shares of the company's stock, valued at approximately $13,474,483.32. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tarang Amin sold 2,405 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $282,852.05. Following the completion of the transaction, the chief executive officer owned 186,586 shares in the company, valued at $21,944,379.46. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,589 shares of company stock worth $14,547,949 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

e.l.f. Beauty Trading Down 3.8%

Shares of e.l.f. Beauty stock traded down $4.58 during trading on Friday, reaching $116.61. The company's stock had a trading volume of 1,369,815 shares, compared to its average volume of 1,693,364. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $190.38. The firm's 50-day moving average is $117.05 and its two-hundred day moving average is $89.12. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 60.42, a PEG ratio of 2.87 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The business had revenue of $332.65 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ELF shares. Raymond James Financial upped their price target on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Robert W. Baird boosted their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. UBS Group raised their price target on e.l.f. Beauty from $95.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Bank of America boosted their price objective on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Finally, Canaccord Genuity Group upped their price objective on shares of e.l.f. Beauty from $114.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.94.

About e.l.f. Beauty

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.