American Century Companies Inc. Sells 378,717 Shares of e.l.f. Beauty $ELF

Key Points

• American Century Companies Inc. reduced its stake in e.l.f. Beauty by 65.7%, now owning approximately $12.41 million worth of shares after selling a significant portion during the first quarter.
• Several other institutional investors have made moves in e.l.f. Beauty, with Caas Capital Management increasing its stake by 1,466.7% to own shares valued at $295,000.
• e.l.f. Beauty's recent analyst ratings show a consensus rating of "Moderate Buy" with a target price of $123.81, highlighting optimism from experts about the company's stock performance.

American Century Companies Inc. lowered its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 65.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,559 shares of the company's stock after selling 378,717 shares during the period. American Century Companies Inc. owned 0.35% of e.l.f. Beauty worth $12,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ELF. Orion Capital Management LLC purchased a new stake in shares of e.l.f. Beauty during the 4th quarter worth about $30,000. Golden State Wealth Management LLC acquired a new stake in shares of e.l.f. Beauty during the first quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in shares of 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 purchasing an additional 244 shares during the period. Signaturefd LLC raised its holdings in e.l.f. Beauty by 27.9% in the first quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after acquiring an additional 187 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in e.l.f. Beauty in the first quarter valued at approximately $69,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ELF shares. JPMorgan Chase & Co. cut their price target on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Piper Sandler reiterated an "overweight" rating and set a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Bank of America boosted their price target 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. Raymond James Financial lifted their price objective on e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Finally, Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, e.l.f. Beauty has a consensus rating of "Moderate Buy" and a consensus target price of $123.81.

Insiders Place Their Bets

In related news, insider Kory Marchisotto sold 1,496 shares of e.l.f. Beauty stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $175,944.56. Following the completion of the sale, the insider owned 158,303 shares of the company's stock, valued at approximately $18,618,015.83. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Cooks Levitan sold 4,630 shares of e.l.f. Beauty stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $118.94, for a total transaction of $550,692.20. Following the completion of the transaction, the director owned 11,507 shares in the company, valued at $1,368,642.58. This trade represents a 28.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,836 shares of company stock worth $13,076,695 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

e.l.f. Beauty Trading Up 3.8%

NYSE ELF traded up $4.77 on Thursday, hitting $129.67. 2,197,155 shares of the stock were exchanged, compared to its average volume of 2,497,955. The company's 50-day moving average price is $118.29 and its two-hundred day moving average price is $90.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $155.33. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 76.28, a P/E/G ratio of 3.08 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS 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 business had revenue of $353.74 million for the quarter, compared to analysts' expectations of $348.99 million. During the same period in the previous year, the company posted $1.10 EPS. e.l.f. Beauty's revenue was up 9.0% on a year-over-year basis. Research analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

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.