e.l.f. Beauty (NYSE:ELF) Stock Position Lowered by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in e.l.f. Beauty by 0.9%, holding approximately $498.5 million in shares after selling 70,290 shares in the first quarter.
• Wall Street analysts have increased their price targets for e.l.f. Beauty, with JPMorgan raising its target from $70 to $123 and several firms giving it ratings ranging from "buy" to "strong buy."
• Insider selling occurred recently from key executives, including a senior VP and the CEO, who sold shares valued at over $450,000 combined, indicating a slight decrease in their ownership stakes.

Baillie Gifford & Co. reduced its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,939,144 shares of the company's stock after selling 70,290 shares during the quarter. Baillie Gifford & Co. owned 14.08% of e.l.f. Beauty worth $498,499,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ELF. Teacher Retirement System of Texas acquired a new stake in e.l.f. Beauty during the 4th quarter valued at approximately $302,000. Sei Investments Co. grew its stake in e.l.f. Beauty by 31.3% during the 4th quarter. Sei Investments Co. now owns 172,441 shares of the company's stock valued at $21,650,000 after purchasing an additional 41,129 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in e.l.f. Beauty during the 4th quarter valued at approximately $1,444,000. Vanguard Group Inc. grew its stake in e.l.f. Beauty by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock valued at $690,174,000 after purchasing an additional 68,103 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in e.l.f. Beauty by 107.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 287,710 shares of the company's stock valued at $36,122,000 after purchasing an additional 148,916 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Stock Performance

NYSE:ELF traded down $1.77 during midday trading on Tuesday, reaching $119.18. 540,513 shares of the company traded hands, compared to its average volume of 2,696,803. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $190.38. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 61.75, a price-to-earnings-growth ratio of 2.87 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.05 and a quick ratio of 2.00. The company has a fifty day moving average price of $114.62 and a 200 day moving average price of $88.74.

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

Analysts Set New Price Targets

ELF has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the company a "buy" rating in a research note on Thursday, May 29th. Truist Financial lifted their target price on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Raymond James Financial lifted their target price on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. UBS Group lifted their target price on e.l.f. Beauty from $95.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Bank of America lifted their target price on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, e.l.f. Beauty has an average rating of "Moderate Buy" and a consensus target price of $123.94.

Insider Activity

In other e.l.f. Beauty news, insider Kory Marchisotto sold 1,496 shares of e.l.f. Beauty stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $175,944.56. Following the sale, the insider owned 158,303 shares of the company's stock, valued at $18,618,015.83. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joshua Allen Franks 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 sale, the senior vice president directly owned 120,471 shares in the company, valued at $14,168,594.31. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,589 shares of company stock worth $14,547,949 over the last ninety days. 3.90% of the stock is currently owned by company insiders.

e.l.f. Beauty Company 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.