e.l.f. Beauty $ELF Shares Sold by Pier Capital LLC

Key Points

• Pier Capital LLC cut its stake in e.l.f. Beauty by 34.3% in Q4, selling 19,896 shares and ending the quarter with 38,158 shares (about 0.06% of the company) valued at roughly $2.90 million.
• Significant insider selling has occurred recently—insiders disposed of 210,013 shares (≈$13.32 million) over the past 90 days, including CEO Tarang Amin's sale of 41,520 shares on April 27 that reduced his holding by 26.9%.
• Brokerages have trimmed targets (e.g., Deutsche Bank to $68, Morgan Stanley to $67), but the consensus remains a "Moderate Buy" with an average price target of $103.06.

Pier Capital LLC reduced its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,158 shares of the company's stock after selling 19,896 shares during the period. Pier Capital LLC owned approximately 0.06% of e.l.f. Beauty worth $2,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Swedbank AB increased its holdings in e.l.f. Beauty by 97.0% in the fourth quarter. Swedbank AB now owns 1,364,801 shares of the company's stock valued at $103,779,000 after buying an additional 672,071 shares in the last quarter. Atreides Management LP purchased a new position in e.l.f. Beauty in the second quarter valued at $61,479,000. Man Group plc purchased a new position in e.l.f. Beauty in the second quarter valued at $52,316,000. Woodline Partners LP purchased a new position in e.l.f. Beauty in the third quarter valued at $52,613,000. Finally, Candlestick Capital Management LP purchased a new stake in shares of e.l.f. Beauty during the third quarter worth about $31,962,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Tarang Amin sold 41,520 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $2,643,163.20. Following the completion of the transaction, the chief executive officer owned 112,690 shares of the company's stock, valued at $7,173,845.40. The trade was a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Catherine Hartnett sold 20,829 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $63.66, for a total transaction of $1,325,974.14. Following the transaction, the insider directly owned 68,726 shares of the company's stock, valued at $4,375,097.16. This trade represents a 23.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 210,013 shares of company stock valued at $13,315,490. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELF. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of e.l.f. Beauty from $95.00 to $68.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Evercore initiated coverage on shares of e.l.f. Beauty in a research note on Thursday, April 2nd. They issued an "inline" rating and a $68.00 price target for the company. Morgan Stanley reiterated an "equal weight" rating and issued a $67.00 target price (down from $80.00) on shares of e.l.f. Beauty in a report on Friday, May 1st. Bank of America decreased their price target on e.l.f. Beauty from $115.00 to $93.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Finally, Wall Street Zen raised e.l.f. Beauty from a "sell" rating to a "hold" rating in a research note on Saturday, January 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.06.

e.l.f. Beauty Trading Up 0.6%

NYSE ELF opened at $61.79 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.89 and a current ratio of 2.76. The firm has a market cap of $3.65 billion, a PE ratio of 34.91, a P/E/G ratio of 3.31 and a beta of 1.71. e.l.f. Beauty has a one year low of $58.05 and a one year high of $150.99. The firm's fifty day moving average is $70.01 and its two-hundred day moving average is $80.94.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.52. The business had revenue of $489.51 million for the quarter, compared to the consensus estimate of $461.78 million. e.l.f. Beauty had a net margin of 6.84% and a return on equity of 15.08%. The business's quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Analysts expect that e.l.f. Beauty will post 1.88 earnings per share for the current year.

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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