e.l.f. Beauty $ELF Position Trimmed by Bank of America Corp DE

Key Points

• Bank of America cut its e.l.f. Beauty stake by 31.3% in the second quarter, selling 130,924 shares and retaining 287,507 shares worth about $21.3 million. Institutional investors still own 92.44% of the company.
• Company insiders sold 116,223 shares worth approximately $10 million over the past quarter, including notable sales by CEO Tarang Amin and insider Kory Marchisotto.
• e.l.f. Beauty reported strong quarterly results, with revenue up 35.5% year over year and EPS of $1.75 versus the $0.71 consensus estimate. Analysts maintain a broadly positive view, with a “Moderate Buy” consensus and an average price target of $97.12.

Bank of America Corp DE decreased its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 31.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 287,507 shares of the company's stock after selling 130,924 shares during the quarter. Bank of America Corp DE owned 0.49% of e.l.f. Beauty worth $21,276,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new stake in shares of e.l.f. Beauty during the fourth quarter worth $32,000. State of Wyoming purchased a new position in e.l.f. Beauty in the 2nd quarter worth about $40,000. EverSource Wealth Advisors LLC raised its holdings in e.l.f. Beauty by 378.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock worth $43,000 after buying an additional 564 shares during the period. North Star Investment Management Corp. acquired a new stake in e.l.f. Beauty during the 1st quarter worth about $88,000. Finally, Cetera Trust Company N.A purchased a new stake in e.l.f. Beauty during the second quarter valued at about $103,000. Institutional investors own 92.44% of the company's stock.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 50,164 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total transaction of $3,924,831.36. Following the transaction, the chief executive officer owned 110,496 shares of the company's stock, valued at approximately $8,645,207.04. The trade was a 31.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kory Marchisotto sold 12,173 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $88.02, for a total transaction of $1,071,467.46. Following the transaction, the insider owned 169,695 shares of the company's stock, valued at approximately $14,936,553.90. The trade was a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 116,223 shares of company stock valued at $10,000,410. 3.50% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Down 1.5%

Shares of e.l.f. Beauty stock opened at $100.61 on Thursday. e.l.f. Beauty has a 12-month low of $48.82 and a 12-month high of $147.75. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $94.16 and a two-hundred day moving average price of $74.98. The stock has a market capitalization of $5.94 billion, a P/E ratio of 100.61, a PEG ratio of 2.89 and a beta of 1.60.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.75 EPS for the quarter, topping the consensus estimate of $0.71 by $1.04. The firm had revenue of $479.37 million for the quarter, compared to the consensus estimate of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The business's quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Equities analysts expect that e.l.f. Beauty will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ELF has been the subject of several recent analyst reports. Sanford C. Bernstein raised their target price on shares of e.l.f. Beauty from $121.00 to $127.00 and gave the stock an "outperform" rating in a report on Thursday, September 17th. Bank of America lifted their price objective on shares of e.l.f. Beauty from $100.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, September 15th. Weiss Ratings raised shares of e.l.f. Beauty from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 30th. Piper Sandler increased their target price on e.l.f. Beauty from $50.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, Zacks Research cut e.l.f. Beauty from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.12.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc develops, markets and sells cosmetics, skin care and beauty products. Its portfolio includes e.l.f. Cosmetics, which offers makeup, skin care, tools and accessories, as well as brands such as Naturium, W3LL PEOPLE and Keys Soulcare. The company positions its products as accessible and affordable alternatives across a range of beauty categories.

Founded in 2004, e.l.f. Beauty distributes its products through mass retailers, specialty beauty stores, direct-to-consumer websites and other digital channels.

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