e.l.f. Beauty $ELF Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co has reduced its holdings in e.l.f. Beauty by 9.8%, now owning 17,505 shares worth approximately $2.18 million.
• Analysts are optimistic about e.l.f. Beauty, with several research firms raising their price targets, including Truist Financial's increase from $125 to $130 and Raymond James' upgrade to $155.
• Insider trading activity revealed significant sales, with Director Lauren Cooks Levitan selling 4,630 shares and Mandy J. Fields selling 55,692 shares, demonstrating a decrease in their positions.

Diversified Trust Co trimmed its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,505 shares of the company's stock after selling 1,897 shares during the quarter. Diversified Trust Co's holdings in e.l.f. Beauty were worth $2,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. White Wing Wealth Management purchased a new stake in shares of e.l.f. Beauty in the second quarter worth approximately $366,000. Moody National Bank Trust Division bought a new position in e.l.f. Beauty in the second quarter worth approximately $257,000. Wealth Enhancement Advisory Services LLC grew its stake in e.l.f. Beauty by 63.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,676 shares of the company's stock worth $874,000 after purchasing an additional 2,596 shares in the last quarter. Sarasin & Partners LLP grew its stake in e.l.f. Beauty by 110.4% in the second quarter. Sarasin & Partners LLP now owns 52,591 shares of the company's stock worth $6,544,000 after purchasing an additional 27,596 shares in the last quarter. Finally, MRA Advisory Group bought a new position in e.l.f. Beauty in the second quarter worth approximately $208,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELF has been the topic of several recent research reports. B. Riley increased their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Robert W. Baird raised their price objective on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. lowered their price target on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Morgan Stanley upgraded e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $114.00 to $134.00 in a research note on Monday, August 11th. Finally, Bank of America lifted their price objective on e.l.f. Beauty from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and an average target price of $133.40.

Insider Buying and Selling

In other news, insider Mandy J. Fields sold 5,298 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.21, for a total transaction of $795,812.58. Following the transaction, the insider directly owned 58,856 shares in the company, valued at $8,840,759.76. The trade was a 8.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott Milsten sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total value of $2,253,450.00. Following the transaction, the insider owned 97,406 shares in the company, valued at approximately $14,633,303.38. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,745 shares of company stock worth $25,613,238 in the last quarter. 3.90% of the stock is owned by insiders.

e.l.f. Beauty Price Performance

ELF stock traded down $2.56 during trading on Monday, hitting $137.40. The stock had a trading volume of 1,572,334 shares, compared to its average volume of 2,592,921. 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 twelve month low of $49.40 and a twelve month high of $150.99. The stock has a market capitalization of $8.15 billion, a P/E ratio of 80.83, a PEG ratio of 3.25 and a beta of 1.59. The company's 50-day moving average price is $122.52 and its two-hundred day moving average price is $97.95.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) 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 EPS. e.l.f. Beauty's revenue was up 9.0% compared to the same quarter last year. As a group, research analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

e.l.f. Beauty Company 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.