Celsius Holdings Inc. $CELH Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Celsius stake by 63.2% in the second quarter, selling 306,722 shares and retaining 178,583 shares valued at approximately $5.2 million. Institutional investors collectively own 60.95% of CELH.
• Celsius insiders have been buying shares: directors Hal Kravitz and Damon DeSantis purchased a combined 28,000 shares on September 15, while insiders bought 66,000 shares worth $1.83 million over the past 90 days.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $43.38, although several firms recently downgraded the stock or lowered their targets. Celsius opened at $26.75, and its latest quarterly results missed expectations for both earnings and revenue.

Envestnet Asset Management Inc. reduced its position in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 63.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 178,583 shares of the company's stock after selling 306,722 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Celsius worth $5,229,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Celsius by 4.5% in the 2nd quarter. State Street Corp now owns 5,253,654 shares of the company's stock worth $153,861,000 after purchasing an additional 227,418 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Celsius during the fourth quarter worth $70,632,000. Bank of New York Mellon Corp purchased a new stake in shares of Celsius during the second quarter valued at $43,040,000. Jennison Associates LLC lifted its holdings in shares of Celsius by 2.4% during the first quarter. Jennison Associates LLC now owns 1,298,521 shares of the company's stock valued at $46,072,000 after purchasing an additional 30,327 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Celsius by 1.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,203,942 shares of the company's stock valued at $35,251,000 after purchasing an additional 21,025 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Buying and Selling at Celsius

In related news, Director Hal Kravitz acquired 12,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were bought at an average price of $28.00 per share, for a total transaction of $336,000.00. Following the acquisition, the director owned 239,158 shares in the company, valued at $6,696,424. This trade represents a 5.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Damon DeSantis acquired 16,000 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $27.95 per share, with a total value of $447,200.00. Following the transaction, the director directly owned 2,728,187 shares of the company's stock, valued at $76,252,826.65. The trade was a 0.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 66,000 shares of company stock valued at $1,830,120 in the last ninety days. Company insiders own 2.33% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on CELH. Stephens lowered their price objective on shares of Celsius from $65.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft lowered Celsius from a "buy" rating to a "hold" rating and set a $35.00 target price for the company. in a report on Thursday, August 27th. Sanford C. Bernstein cut Celsius from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $44.00 to $26.00 in a research report on Friday, August 7th. Morgan Stanley set a $42.00 price target on shares of Celsius and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Maxim Group cut Celsius from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.38.

Celsius Stock Performance

Shares of CELH opened at $26.75 on Friday. The company has a market capitalization of $6.77 billion, a PE ratio of 111.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.80 and a quick ratio of 1.42. Celsius Holdings Inc. has a one year low of $23.56 and a one year high of $66.74. The company's fifty day moving average price is $29.46 and its 200 day moving average price is $31.22.

Celsius (NASDAQ:CELH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). The firm had revenue of $817.93 million for the quarter, compared to the consensus estimate of $870.08 million. Celsius had a net margin of 4.24% and a return on equity of 36.52%. The firm's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. As a group, analysts expect that Celsius Holdings Inc. will post 1.43 earnings per share for the current year.

Celsius Company Profile

Celsius Holdings, Inc develops, markets and distributes functional beverages designed to support active lifestyles. Its flagship CELSIUS brand offers carbonated and non-carbonated energy drinks, including CELSIUS Vibe and CELSIUS Essentials product lines. The beverages are positioned as better-for-you alternatives to traditional energy drinks and are available in a variety of flavors and package formats.

The company sells its products through grocery stores, convenience stores, club retailers, drugstores, gyms, e-commerce platforms and other retail channels.

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