BI Asset Management Fondsmaeglerselskab A S Cuts Position in e.l.f. Beauty $ELF

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its position in e.l.f. Beauty by 91.2%, now holding 598 shares worth $38,000.
• Multiple investors increased their stakes in e.l.f. Beauty, with Dimensional Fund Advisors LP boosting its holdings by 9.5% and Stifel Financial Corp increasing theirs by 48.8% during the fourth quarter.
• Analysts maintain a positive outlook for e.l.f. Beauty, with a consensus rating of "Moderate Buy" and a price target averaging around $123.81.

BI Asset Management Fondsmaeglerselskab A S lowered its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 91.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 598 shares of the company's stock after selling 6,228 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in e.l.f. Beauty were worth $38,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of e.l.f. Beauty by 7.1% during the 4th quarter. ProShare Advisors LLC now owns 2,635 shares of the company's stock worth $331,000 after purchasing an additional 174 shares during the last quarter. Signaturefd LLC lifted its position in shares of e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after purchasing an additional 187 shares during the last quarter. State of Michigan Retirement System lifted its holdings in e.l.f. Beauty by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 13,500 shares of the company's stock worth $848,000 after buying an additional 200 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in e.l.f. Beauty by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $992,000 after buying an additional 200 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in e.l.f. Beauty by 1.0% during the 1st quarter. Fifth Third Bancorp now owns 21,751 shares of the company's stock worth $1,366,000 after buying an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. B. Riley reaffirmed a "buy" rating and set a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Bank of America boosted their target price 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. The Goldman Sachs Group boosted their price objective on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, Robert W. Baird boosted their price objective on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.81.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 11,860 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the completion of the transaction, the senior vice president owned 121,967 shares in the company, valued at approximately $14,094,506.52. This represents a 8.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 24,533 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $2,835,033.48. Following the transaction, the chief executive officer directly owned 188,991 shares of the company's stock, valued at $21,839,799.96. This represents a 11.49% decrease in their ownership of the stock. 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. Corporate insiders own 3.90% of the company's stock.

e.l.f. Beauty Stock Performance

ELF traded up $4.77 on Thursday, hitting $129.67. 2,197,155 shares of the company traded hands, compared to its average volume of 2,497,955. The company has a 50 day moving average of $118.29 and a 200-day moving average of $90.40. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $7.69 billion, a PE ratio of 76.28, a PEG ratio of 3.08 and a beta of 1.57. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $155.33.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The business had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company's quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

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.