Bank of New York Mellon Corp Sells 67,773 Shares of e.l.f. Beauty (NYSE:ELF)

Bank of New York Mellon Corp trimmed its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 408,597 shares of the company's stock after selling 67,773 shares during the period. Bank of New York Mellon Corp owned about 0.72% of e.l.f. Beauty worth $25,656,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock worth $690,174,000 after acquiring an additional 68,103 shares in the last quarter. Champlain Investment Partners LLC raised its stake in e.l.f. Beauty by 99.7% during the 4th quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company's stock valued at $279,531,000 after purchasing an additional 1,111,550 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of e.l.f. Beauty by 17.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company's stock valued at $222,541,000 after purchasing an additional 264,296 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of e.l.f. Beauty by 53.7% in the first quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock worth $58,958,000 after buying an additional 327,980 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in shares of e.l.f. Beauty in the fourth quarter worth $73,576,000. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF traded up $6.86 during midday trading on Friday, hitting $117.76. The company's stock had a trading volume of 2,539,418 shares, compared to its average volume of 2,563,193. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05. The stock's 50 day simple moving average is $108.82 and its 200 day simple moving average is $89.65. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 2.57 and a beta of 1.52. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $190.38.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results 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. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The firm had revenue of $332.65 million for the quarter, compared to analyst estimates of $327.45 million. During the same quarter last year, the firm posted $0.53 EPS. The company's revenue was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 1,496 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 value of $175,944.56. Following the completion of the sale, the senior vice president owned 120,471 shares in the company, valued at approximately $14,168,594.31. This trade represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 2,405 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $282,852.05. Following the sale, the chief executive officer owned 186,586 shares in the company, valued at approximately $21,944,379.46. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,207 shares of company stock worth $25,252,926. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ELF has been the subject of several research analyst reports. Bank of America increased their price objective on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Canaccord Genuity Group upped their target price on e.l.f. Beauty from $114.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Robert W. Baird raised their price target on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Truist Financial boosted their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, B. Riley reiterated a "buy" rating and issued a $150.00 target price (up previously from $110.00) on shares of e.l.f. Beauty in a research report on Friday, June 13th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $123.38.

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.