e.l.f. Beauty $ELF Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its e.l.f. Beauty stake by 45.9% in the first quarter, acquiring 131,572 additional shares and ending with 418,431 shares worth approximately $25.4 million.
• e.l.f. Beauty reported quarterly EPS of $1.75, beating estimates of $0.71, while revenue rose 35.5% year over year to $479.37 million. Shares opened at $93.45, up 2.2%.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $90.81, although company insiders sold 134,028 shares worth $9.4 million over the past 90 days.

Bank of America Corp DE increased its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 418,431 shares of the company's stock after acquiring an additional 131,572 shares during the quarter. Bank of America Corp DE owned approximately 0.71% of e.l.f. Beauty worth $25,361,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ELF. Northwestern Mutual Wealth Management Co. boosted its holdings in e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock worth $39,000 after buying an additional 117 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of e.l.f. Beauty by 97.0% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company's stock valued at $32,000 after acquiring an additional 128 shares during the last quarter. Horizon Investments LLC lifted its position in shares of e.l.f. Beauty by 13.4% in the fourth quarter. Horizon Investments LLC now owns 1,089 shares of the company's stock valued at $83,000 after acquiring an additional 129 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of e.l.f. Beauty by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 17,246 shares of the company's stock valued at $2,285,000 after acquiring an additional 144 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of e.l.f. Beauty by 0.3% in the second quarter. California State Teachers Retirement System now owns 52,055 shares of the company's stock valued at $6,478,000 after acquiring an additional 152 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Trading Up 2.2%

Shares of ELF stock opened at $93.45 on Tuesday. The company's 50-day moving average price is $76.36 and its 200-day moving average price is $71.73. The company has a current ratio of 2.55, a quick ratio of 1.82 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 93.45, a PEG ratio of 2.88 and a beta of 1.58. e.l.f. Beauty has a twelve month low of $48.82 and a twelve month high of $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $1.04. The firm had revenue of $479.37 million during the quarter, compared to analyst estimates of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. e.l.f. Beauty's quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. As a group, equities analysts predict that e.l.f. Beauty will post 2.61 earnings per share for the current year.

Analyst Ratings Changes

ELF has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of e.l.f. Beauty from $94.00 to $111.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Canaccord Genuity Group increased their target price on shares of e.l.f. Beauty from $90.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Zacks Research upgraded shares of e.l.f. Beauty from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. TD Cowen raised their price target on shares of e.l.f. Beauty from $85.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group set a $100.00 price target on shares of e.l.f. Beauty in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average price target of $90.81.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 8,464 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $51.94, for a total transaction of $439,620.16. Following the completion of the sale, the insider owned 111,288 shares of the company's stock, valued at $5,780,298.72. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tarang Amin sold 50,164 shares of e.l.f. Beauty stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total value of $3,924,831.36. Following the completion of the sale, the chief executive officer owned 110,496 shares in the company, valued at $8,645,207.04. This represents a 31.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 134,028 shares of company stock valued at $9,422,961 in the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Company Profile

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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