Atreides Management LP Increases Stake in e.l.f. Beauty $ELF

Key Points

• Atreides Management increased its position in e.l.f. Beauty by 9% in Q3 to 538,348 shares (~$71.32M), representing about 0.90% of the company and the firm's 22nd-largest holding.
• e.l.f. beat quarterly expectations, reporting $1.24 EPS vs. $0.72 expected and $489.5M revenue (up 37.8% YoY), and issued FY2026 guidance of $3.05–$3.10 EPS.
• Analysts carry a consensus "Moderate Buy" with an average price target of $119.13, well above the recent price (~$73.37), implying notable upside potential.

Atreides Management LP increased its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 538,348 shares of the company's stock after purchasing an additional 44,301 shares during the period. e.l.f. Beauty makes up 1.4% of Atreides Management LP's portfolio, making the stock its 22nd largest holding. Atreides Management LP owned about 0.90% of e.l.f. Beauty worth $71,320,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in e.l.f. Beauty by 97.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company's stock worth $32,000 after purchasing an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of e.l.f. Beauty by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock valued at $39,000 after buying an additional 117 shares during the period. MAI Capital Management boosted its position in shares of e.l.f. Beauty by 129.1% during the second quarter. MAI Capital Management now owns 394 shares of the company's stock valued at $49,000 after buying an additional 222 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of e.l.f. Beauty during the second quarter valued at approximately $49,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of e.l.f. Beauty by 29.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 384 shares of the company's stock worth $52,000 after buying an additional 87 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ELF shares. Robert W. Baird set a $115.00 price target on e.l.f. Beauty in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of e.l.f. Beauty in a research report on Wednesday, January 21st. Piper Sandler reduced their target price on e.l.f. Beauty from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, December 22nd. Wall Street Zen upgraded e.l.f. Beauty from a "sell" rating to a "hold" rating in a research report on Saturday, January 24th. Finally, Citigroup boosted their target price on shares of e.l.f. Beauty from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $119.13.

e.l.f. Beauty Stock Up 1.1%

Shares of NYSE:ELF opened at $73.37 on Friday. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $150.99. The stock has a market cap of $4.33 billion, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 6.17 and a beta of 1.68. The business's 50 day moving average is $84.66 and its 200 day moving average is $99.31. The company has a quick ratio of 1.89, a current ratio of 2.76 and a debt-to-equity ratio of 0.70.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.52. e.l.f. Beauty had a return on equity of 15.08% and a net margin of 6.84%.The business had revenue of $489.51 million during the quarter, compared to analyst estimates of $461.78 million. During the same period in the previous year, the company posted $0.74 EPS. e.l.f. Beauty's revenue was up 37.8% on a year-over-year basis. e.l.f. Beauty has set its FY 2026 guidance at 3.050-3.100 EPS. Sell-side 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 NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.