e.l.f. Beauty $ELF Stake Lessened by Robbins Farley

Key Points

• Robbins Farley significantly reduced its stake in e.l.f. Beauty by 99.4%, retaining only 207 shares after selling 35,439 shares in the second quarter.
• Several other institutional investors have increased their holdings in e.l.f. Beauty, with combined stakes now at 92.44% of the company owned by institutional investors.
• e.l.f. Beauty recently reported better-than-expected earnings, with an EPS of $0.89 and revenues of $353.74 million, exceeding analyst expectations.

Robbins Farley cut its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 99.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207 shares of the company's stock after selling 35,439 shares during the period. Robbins Farley's holdings in e.l.f. Beauty were worth $26,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aurora Investment Counsel bought a new position in shares of e.l.f. Beauty in the first quarter valued at approximately $294,000. Caas Capital Management LP grew its stake in shares of e.l.f. Beauty by 1,466.7% in the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock worth $295,000 after purchasing an additional 4,400 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of e.l.f. Beauty by 42.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock worth $6,482,000 after purchasing an additional 30,530 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of e.l.f. Beauty by 165.6% in the 1st quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock worth $953,000 after purchasing an additional 9,466 shares during the last quarter. Finally, Generate Investment Management Ltd acquired a new position in shares of e.l.f. Beauty in the 1st quarter worth approximately $21,650,000. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $131.24 on Tuesday. e.l.f. Beauty has a one year low of $49.40 and a one year high of $150.99. The company has a 50-day moving average of $125.17 and a two-hundred day moving average of $100.61. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 77.20, a PEG ratio of 3.01 and a beta of 1.59. 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 (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. On average, equities research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group set a $165.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday, September 9th. Robert W. Baird lifted their price objective on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $155.00 price objective (up previously from $140.00) on shares of e.l.f. Beauty in a research note on Monday, September 8th. UBS Group lowered their price objective on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, Bank of America raised their target price on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, e.l.f. Beauty presently has an average rating of "Moderate Buy" and a consensus target price of $133.40.

Insider Buying and Selling at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 7,913 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the completion of the sale, the senior vice president directly owned 99,369 shares in the company, valued at approximately $14,408,505. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott Milsten sold 15,000 shares of the firm'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 transaction of $2,253,450.00. Following the sale, the insider owned 97,406 shares of the company's stock, 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 valued at $25,613,238 in the last 90 days. Corporate insiders own 3.90% of the company's stock.

About e.l.f. Beauty

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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