e.l.f. Beauty (NYSE:ELF) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL has reduced its holdings in e.l.f. Beauty by 31.1%, selling 11,026 shares and leaving them with a total of 24,388 shares worth approximately $1,531,000.
• e.l.f. Beauty reported strong quarterly earnings for the period ending August 6th, with an EPS of $0.89, exceeding expectations of $0.84, and a year-over-year revenue increase of 9.0% to $353.74 million.
• Institutional ownership of e.l.f. Beauty is significant, with 92.44% of the company's stock held by hedge funds and institutional investors, indicating strong confidence in the company's performance.

Blair William & Co. IL trimmed its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 31.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,388 shares of the company's stock after selling 11,026 shares during the period. Blair William & Co. IL's holdings in e.l.f. Beauty were worth $1,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ELF. Aurora Investment Counsel acquired a new stake in e.l.f. Beauty during the first quarter worth about $294,000. Caas Capital Management LP raised its holdings in e.l.f. Beauty by 1,466.7% in the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock valued at $295,000 after buying an additional 4,400 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of e.l.f. Beauty by 42.0% during the first quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock valued at $6,482,000 after acquiring an additional 30,530 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in shares of e.l.f. Beauty during the fourth quarter valued at about $9,671,000. Finally, Vontobel Holding Ltd. increased its position in shares of e.l.f. Beauty by 165.6% during the first quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock valued at $953,000 after acquiring an additional 9,466 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Performance

ELF stock traded up $5.06 on Tuesday, hitting $116.73. The company's stock had a trading volume of 2,696,840 shares, compared to its average volume of 2,727,431. The firm has a 50 day moving average of $118.61 and a two-hundred day moving average of $87.94. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $172.49. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 68.67, a price-to-earnings-growth ratio of 2.40 and a beta of 1.57. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32.

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, 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 firm had revenue of $353.74 million during the quarter, compared to the consensus estimate of $348.99 million. During the same quarter in the prior year, the firm earned $1.10 EPS. e.l.f. Beauty's revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target 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. The Goldman Sachs Group lifted their price target on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Raymond James Financial raised their price objective on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. UBS Group lowered their price objective on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the company a "buy" rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.81.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, insider Kory Marchisotto sold 1,496 shares of the business's 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 transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joshua Allen Franks sold 1,496 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total transaction of $175,944.56. Following the completion of the transaction, the senior vice president directly owned 120,471 shares in the company, valued at $14,168,594.31. This represents a 1.23% decrease in their ownership of the stock. 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 90 days. Company insiders own 3.90% of the company's stock.

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.