Cetera Investment Advisers Has $1.42 Million Position in e.l.f. Beauty (NYSE:ELF)

Key Points

• Cetera Investment Advisers reduced its stake in e.l.f. Beauty by 30.2%, now holding 22,668 shares, valued at approximately $1.42 million.
• Multiple institutional investors have adjusted their positions, with 92.44% of e.l.f. Beauty's stock now owned by institutional investors and hedge funds, indicating strong institutional interest.
• e.l.f. Beauty recently reported earnings of $0.89 per share, surpassing estimates, with revenue of $353.74 million for the quarter, a 9.0% increase compared to the previous year.

Cetera Investment Advisers reduced its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 30.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,668 shares of the company's stock after selling 9,810 shares during the period. Cetera Investment Advisers' holdings in e.l.f. Beauty were worth $1,423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Savoir Faire Capital Management L.P. grew its position in shares of e.l.f. Beauty by 40.1% during the fourth quarter. Savoir Faire Capital Management L.P. now owns 98,350 shares of the company's stock worth $12,348,000 after acquiring an additional 28,126 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of e.l.f. Beauty by 7.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 198,673 shares of the company's stock worth $24,943,000 after purchasing an additional 13,118 shares during the period. Bank of Montreal Can boosted its position in shares of e.l.f. Beauty by 24.2% in the fourth quarter. Bank of Montreal Can now owns 20,668 shares of the company's stock worth $2,595,000 after buying an additional 4,023 shares during the period. Advisory Services Network LLC boosted its position in shares of e.l.f. Beauty by 830.2% in the fourth quarter. Advisory Services Network LLC now owns 9,386 shares of the company's stock worth $1,178,000 after buying an additional 8,377 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of e.l.f. Beauty by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,630 shares of the company's stock worth $2,967,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Performance

NYSE:ELF traded down $2.88 during trading hours on Thursday, hitting $120.04. 1,295,107 shares of the company traded hands, compared to its average volume of 2,715,415. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 70.59, a P/E/G ratio of 2.83 and a beta of 1.57. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $172.49. The firm has a 50-day moving average of $118.77 and a 200 day moving average of $88.38. 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 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 analysts' expectations of $348.99 million. During the same period in the prior year, the company earned $1.10 EPS. The business's quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Buying and Selling

In other news, CEO Tarang Amin sold 24,533 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $2,835,033.48. Following the completion of the transaction, the chief executive officer owned 188,991 shares in the company, valued at approximately $21,839,799.96. This represents a 11.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Milsten sold 11,860 shares of the 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 insider owned 118,836 shares of the company's stock, valued at approximately $13,732,688.16. This represents a 9.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,589 shares of company stock worth $14,547,949. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

ELF has been the topic of a number of research reports. Morgan Stanley raised shares of e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $114.00 to $134.00 in a research note on Monday. Truist Financial upped their price target on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. UBS Group reduced 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. Deutsche Bank Aktiengesellschaft raised shares of e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research note on Friday, August 8th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $109.00 price objective (up previously from $81.00) on shares of e.l.f. Beauty 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.81.

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.