Charles Schwab Investment Management Inc. Grows Holdings in e.l.f. Beauty $ELF

Key Points

• Charles Schwab Investment Management Inc. increased its stake in e.l.f. Beauty by 1.7%, acquiring an additional 8,965 shares, totaling ownership of about 0.93% of the company worth approximately $32.8 million.
• Insider trading activity included CEO Tarang Amin selling 2,405 shares for about $282,852, which decreased his ownership by 1.27%.
• e.l.f. Beauty reported earnings that exceeded analysts' expectations with a $0.89 EPS against a consensus estimate of $0.84, while revenue grew by 9% year-over-year, reaching $353.74 million.

Charles Schwab Investment Management Inc. lifted its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 522,732 shares of the company's stock after purchasing an additional 8,965 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.93% of e.l.f. Beauty worth $32,822,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Aspex Management HK Ltd bought a new position in shares of e.l.f. Beauty during the 4th quarter valued at about $73,576,000. AXA S.A. lifted its stake in shares of e.l.f. Beauty by 2,074.4% in the 4th quarter. AXA S.A. now owns 394,005 shares of the company's stock valued at $49,467,000 after acquiring an additional 375,885 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of e.l.f. Beauty by 68.0% in the first quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock worth $54,167,000 after buying an additional 349,024 shares during the period. Generate Investment Management Ltd bought a new position in shares of e.l.f. Beauty during the first quarter valued at about $21,650,000. Finally, Congress Asset Management Co. boosted its holdings in shares of e.l.f. Beauty by 53.7% during the first quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock worth $58,958,000 after purchasing an additional 327,980 shares during the period. Institutional investors own 92.44% of the company's stock.

Insider Activity at e.l.f. Beauty

In related news, insider Kory Marchisotto sold 1,496 shares of e.l.f. Beauty stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mandy J. Fields sold 1,487 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $117.61, for a total transaction of $174,886.07. Following the transaction, the insider owned 119,846 shares in the company, valued at $14,095,088.06. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,219 shares of company stock worth $15,098,642 in the last ninety days. Corporate insiders own 3.90% of the company's stock.

Analyst Ratings Changes

ELF has been the subject of several research reports. Raymond James Financial upped their price objective on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group dropped their target price on shares of e.l.f. Beauty from $150.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $109.00 price target (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Robert W. Baird raised their target price on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.81.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock traded down $3.8960 during trading hours on Thursday, reaching $116.5440. The company's stock had a trading volume of 2,383,649 shares, compared to its average volume of 2,696,516. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. e.l.f. Beauty has a one year low of $49.40 and a one year high of $172.49. The firm has a 50 day moving average price of $118.91 and a 200-day moving average price of $88.90. The stock has a market cap of $6.91 billion, a P/E ratio of 68.56, a P/E/G ratio of 2.96 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share 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 company had revenue of $353.74 million for the quarter, compared to analysts' expectations of $348.99 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

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.