Kovitz Investment Group Partners LLC Sells 8,585 Shares of e.l.f. Beauty $ELF

Key Points

• Kovitz Investment Group Partners LLC has significantly reduced its stake in e.l.f. Beauty by 66.3%, selling 8,585 shares during the first quarter, leaving them with 4,366 shares valued at $274,000.
• Research analysts show a mix of perspectives, with B. Riley raising its price target to $150.00 while UBS Group lowered it from $120.00 to $112.00, resulting in a consensus price target of $123.81 and a "Moderate Buy" rating.
• e.l.f. Beauty reported earnings of $0.89 per share in its latest quarterly earnings, surpassing expectations and demonstrating a 9% year-over-year revenue increase compared to the previous quarter.

Kovitz Investment Group Partners LLC cut its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 66.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,366 shares of the company's stock after selling 8,585 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in e.l.f. Beauty were worth $274,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of e.l.f. Beauty during the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC acquired a new stake in e.l.f. Beauty in the first quarter worth approximately $33,000. Larson Financial Group LLC lifted its position in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after purchasing an additional 244 shares during the period. Signaturefd LLC lifted its position in shares of e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after acquiring an additional 187 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of e.l.f. Beauty during the 1st quarter valued at $69,000. 92.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Tarang Amin sold 2,405 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $282,852.05. Following the completion of the sale, the chief executive officer owned 186,586 shares of the company's stock, valued at $21,944,379.46. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 1,496 shares of the firm's stock in a transaction that occurred on 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 sale, the senior vice president directly owned 120,471 shares of the company's stock, valued at approximately $14,168,594.31. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,219 shares of company stock valued at $15,098,642 over the last quarter. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

ELF has been the topic of several recent analyst reports. Robert W. Baird boosted 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. The Goldman Sachs Group increased their target price on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. UBS Group decreased their price target on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. B. Riley restated a "buy" rating and set a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Finally, Canaccord Genuity Group decreased their price target on shares of e.l.f. Beauty from $150.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.81.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock traded down $4.05 during midday trading on Monday, reaching $114.10. The company had a trading volume of 1,570,681 shares, compared to its average volume of 2,459,780. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 54.20, a price-to-earnings-growth ratio of 2.92 and a beta of 1.57. The stock has a fifty day simple moving average of $118.30 and a 200 day simple moving average of $89.59. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $162.34.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The business had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. e.l.f. Beauty's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. As a group, equities research analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current 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.