Allspring Global Investments Holdings LLC Has $9.63 Million Position in e.l.f. Beauty $ELF

Key Points

• Allspring Global Investments Holdings LLC increased its stake in e.l.f. Beauty by 61.5% in Q2, owning approximately $9.63 million worth of shares after purchasing an additional 28,956 shares.
• e.l.f. Beauty's stock recently reached a high of $150.99 over the past year, with a current market capitalization of $8.11 billion and a PE ratio of 80.39.
• UBS Group and other analysts have raised their price targets for e.l.f. Beauty, with UBS now at $150.00 and JPMorgan Chase at $168.00, reflecting strong market confidence in the company's growth potential.

Allspring Global Investments Holdings LLC increased its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 61.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,039 shares of the company's stock after purchasing an additional 28,956 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.13% of e.l.f. Beauty worth $9,632,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ELF. Louisiana State Employees Retirement System raised its holdings in shares of e.l.f. Beauty by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock worth $1,979,000 after buying an additional 100 shares in the last quarter. Farther Finance Advisors LLC raised its stake in e.l.f. Beauty by 11.8% during the second quarter. Farther Finance Advisors LLC now owns 993 shares of the company's stock worth $124,000 after acquiring an additional 105 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after acquiring an additional 187 shares during the period. State of Michigan Retirement System boosted its stake in shares of e.l.f. Beauty by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 13,500 shares of the company's stock valued at $848,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of e.l.f. Beauty by 10.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,205 shares of the company's stock valued at $274,000 after purchasing an additional 206 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Performance

ELF stock opened at $136.66 on Friday. The company has a 50 day moving average price of $131.05 and a 200 day moving average price of $107.34. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $150.99. 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 stock has a market capitalization of $8.11 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 3.17 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $353.74 million for 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%.The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. Analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ELF shares. UBS Group lifted their price target on shares of e.l.f. Beauty from $112.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Raymond James Financial reiterated a "strong-buy" rating and issued a $155.00 target price (up previously from $140.00) on shares of e.l.f. Beauty in a research note on Monday, September 8th. The Goldman Sachs Group boosted their target price on e.l.f. Beauty from $137.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. 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. Finally, Canaccord Genuity Group set a $165.00 price objective on e.l.f. Beauty in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.07.

Insider Buying and Selling at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 7,913 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president owned 99,369 shares in the company, valued at approximately $14,408,505. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tarang Amin sold 116,315 shares of e.l.f. Beauty stock in a transaction 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 completion of the sale, the chief executive officer owned 81,818 shares in the company, valued at $10,819,612.32. The trade was a 58.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,060 shares of company stock worth $40,994,733 over the last three months. Company insiders own 3.90% of the company's stock.

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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