e.l.f. Beauty $ELF Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 91.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,925 shares of the company's stock after selling 2,075,714 shares during the period. William Blair Investment Management LLC owned 0.36% of e.l.f. Beauty worth $25,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Champlain Investment Partners LLC boosted its stake in e.l.f. Beauty by 19.7% in the first quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock valued at $167,337,000 after acquiring an additional 438,575 shares in the last quarter. Swedbank AB boosted its stake in e.l.f. Beauty by 42.6% in the first quarter. Swedbank AB now owns 1,157,760 shares of the company's stock valued at $72,696,000 after acquiring an additional 345,760 shares in the last quarter. Congress Asset Management Co. boosted its stake in e.l.f. Beauty by 1.3% in the second quarter. Congress Asset Management Co. now owns 951,309 shares of the company's stock valued at $118,381,000 after acquiring an additional 12,339 shares in the last quarter. Mackenzie Financial Corp boosted its stake in e.l.f. Beauty by 68.0% in the first quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock valued at $54,167,000 after acquiring an additional 349,024 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its stake in e.l.f. Beauty by 9.9% in the first quarter. Zevenbergen Capital Investments LLC now owns 682,009 shares of the company's stock valued at $42,823,000 after acquiring an additional 61,282 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ELF shares. The Goldman Sachs Group upped their price objective on shares of e.l.f. Beauty from $137.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. upped their price objective on shares of e.l.f. Beauty from $130.00 to $168.00 and gave the company an "overweight" rating in a research note on Friday, October 10th. B. Riley upped their price objective on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Piper Sandler initiated coverage on shares of e.l.f. Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $150.00 target price for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of e.l.f. Beauty in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.07.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, insider Kory Marchisotto sold 13,515 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $140.10, for a total transaction of $1,893,451.50. Following the transaction, the insider directly owned 144,788 shares in the company, valued at approximately $20,284,798.80. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joshua Allen Franks sold 7,913 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the transaction, the senior vice president owned 99,369 shares in the company, valued at $14,408,505. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,060 shares of company stock valued at $40,994,733 in the last ninety days. Company insiders own 3.90% of the company's stock.

e.l.f. Beauty Trading Up 0.6%

Shares of ELF opened at $136.66 on Monday. 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 firm's 50-day moving average is $131.05 and its two-hundred day moving average is $107.71. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $150.99. The firm has a market capitalization of $8.11 billion, a P/E ratio of 80.39, a PEG ratio of 3.17 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results 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 net margin of 7.29% and a return on equity of 16.36%. The company had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. During the same period in the prior year, the business posted $1.10 earnings per share. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

e.l.f. Beauty 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.

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