Zevenbergen Capital Investments LLC Has $62.57 Million Stock Position in e.l.f. Beauty $ELF

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in e.l.f. Beauty by 26.3% in Q2, now owning approximately 1.2% of the company, valued at $62.57 million.
• Analysts are optimistic about e.l.f. Beauty, with price targets raised by multiple firms, including Robert W. Baird increasing their target from $110 to $145 and Piper Sandler setting a target of $150.
• Insider sales included significant transactions by Kory Marchisotto and Mandy J. Fields, reducing their holdings by 8.54% and 46.47% respectively, leading to a total of 145,722 shares sold in the last quarter.

Zevenbergen Capital Investments LLC lowered its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 26.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 502,786 shares of the company's stock after selling 179,223 shares during the quarter. e.l.f. Beauty makes up about 1.2% of Zevenbergen Capital Investments LLC's holdings, making the stock its 24th biggest holding. Zevenbergen Capital Investments LLC owned about 0.89% of e.l.f. Beauty worth $62,567,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ELF. Champlain Investment Partners LLC lifted 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 worth $167,337,000 after acquiring an additional 438,575 shares during the last quarter. Prime Capital Management Co Ltd lifted its position in shares of e.l.f. Beauty by 167.8% during the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock worth $37,959,000 after buying an additional 378,826 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of e.l.f. Beauty by 68.0% during the 1st quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock worth $54,167,000 after buying an additional 349,024 shares during the last quarter. Swedbank AB lifted its position in shares of e.l.f. Beauty by 42.6% during the 1st quarter. Swedbank AB now owns 1,157,760 shares of the company's stock worth $72,696,000 after buying an additional 345,760 shares during the last quarter. Finally, Generate Investment Management Ltd purchased a new stake in shares of e.l.f. Beauty during the 1st quarter worth approximately $21,650,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Down 4.8%

Shares of e.l.f. Beauty stock traded down $7.08 on Friday, hitting $139.59. 762,514 shares of the company's stock traded hands, compared to its average volume of 2,589,171. The stock has a market cap of $8.28 billion, a P/E ratio of 82.41, a PEG ratio of 3.55 and a beta of 1.59. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $121.92 and its 200 day moving average is $96.96. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $348.99 million. During the same period in the prior year, the business posted $1.10 EPS. The business's revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Scott Milsten sold 15,000 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total transaction of $2,253,450.00. Following the transaction, the insider directly owned 97,406 shares of the company's stock, valued at approximately $14,633,303.38. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Catherine Hartnett sold 1,304 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $136.32, for a total value of $177,761.28. Following the transaction, the insider directly owned 52,599 shares in the company, valued at $7,170,295.68. This trade represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,933 shares of company stock valued at $23,991,438 in the last three months. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ELF shares. Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research report on Thursday, May 29th. Robert W. Baird lifted 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 report on Friday, June 6th. Canaccord Genuity Group set a $165.00 target price on shares of e.l.f. Beauty in a report on Tuesday, September 9th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $155.00 target price (up from $140.00) on shares of e.l.f. Beauty in a report on Monday, September 8th. Finally, Truist Financial lifted their target price on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $133.40.

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.