e.l.f. Beauty (NYSE:ELF) Shares Acquired by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC increased its stake in e.l.f. Beauty by 12.8%, owning approximately 0.12% of the company worth $4.35 million after acquiring additional shares in the first quarter.
• Analysts have given e.l.f. Beauty a consensus rating of "Moderate Buy", with a price target averaging $122.56, reflecting a generally optimistic outlook for the company's future growth.
• In its most recent earnings report, e.l.f. Beauty reported $0.89 EPS, exceeding expectations and showing a 9.0% increase in revenue year-over-year.

Polen Capital Management LLC lifted its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 12.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,325 shares of the company's stock after buying an additional 7,852 shares during the quarter. Polen Capital Management LLC owned approximately 0.12% of e.l.f. Beauty worth $4,353,000 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. Orion Capital Management LLC acquired a new position in shares of e.l.f. Beauty during the fourth quarter worth about $30,000. Golden State Wealth Management LLC acquired a new position in shares of e.l.f. Beauty during the first quarter worth about $33,000. Larson Financial Group LLC grew its position in shares of e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC boosted its holdings in e.l.f. Beauty by 27.9% in the first quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in e.l.f. Beauty by 55.7% in the fourth quarter. Covestor Ltd now owns 928 shares of the company's stock valued at $117,000 after purchasing an additional 332 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group lowered their price target on e.l.f. Beauty from $150.00 to $128.00 and set a "buy" rating for the company in a report on Thursday. B. Riley reaffirmed a "buy" rating and issued a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Truist Financial upped their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group upped their price target on e.l.f. Beauty from $120.00 to $137.00 and gave the company a "buy" rating in a report on Thursday. Finally, Raymond James Financial upped their price target on e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.56.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $101.82 on Friday. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $172.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.00. The business has a 50 day simple moving average of $118.65 and a 200-day simple moving average of $88.14. The stock has a market capitalization of $5.78 billion, a PE ratio of 59.89, a price-to-earnings-growth ratio of 2.42 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly 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. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%. The business had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company's quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current year.

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

In other news, insider Mandy J. Fields sold 1,487 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $174,886.07. Following the completion of the sale, the insider owned 119,846 shares in the company, valued at $14,095,088.06. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tarang Amin sold 2,405 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total value of $282,852.05. Following the completion of the transaction, the chief executive officer owned 186,586 shares of the company's stock, valued at $21,944,379.46. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,589 shares of company stock valued at $14,547,949. Corporate insiders own 3.90% of the company's stock.

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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