Trillium Asset Management LLC Boosts Position in e.l.f. Beauty (NYSE:ELF)

Key Points

• Trillium Asset Management LLC increased its stake in e.l.f. Beauty by 59.0% during the 1st quarter, owning 42,368 shares valued at approximately $2.66 million.
• CEO Tarang Amin and insider Kory Marchisotto both reported significant stock sales, with Amin selling 24,533 shares worth over $2.83 million, indicating a decrease in their positions.
• Morgan Stanley upgraded e.l.f. Beauty from "equal weight" to "overweight" with a target price increase from $114 to $134, amidst a generally favorable analyst sentiment towards the stock.

Trillium Asset Management LLC grew its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 59.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,368 shares of the company's stock after acquiring an additional 15,727 shares during the period. Trillium Asset Management LLC owned about 0.08% of e.l.f. Beauty worth $2,661,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aurora Investment Counsel acquired a new position in shares of e.l.f. Beauty in the first quarter valued at approximately $294,000. Caas Capital Management LP boosted its stake in shares of e.l.f. Beauty by 1,466.7% in the first quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock valued at $295,000 after purchasing an additional 4,400 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of e.l.f. Beauty by 42.0% in the first quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock valued at $6,482,000 after purchasing an additional 30,530 shares during the period. Granahan Investment Management LLC purchased a new position in shares of e.l.f. Beauty in the fourth quarter valued at $9,671,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of e.l.f. Beauty by 165.6% in the first quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock valued at $953,000 after purchasing an additional 9,466 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

ELF has been the subject of several analyst reports. Piper Sandler restated an "overweight" rating and issued a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Robert W. Baird increased 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 report on Friday, June 6th. Bank of America raised their target price on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Truist Financial raised their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Canaccord Genuity Group decreased their target price on shares of e.l.f. Beauty from $150.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.81.

e.l.f. Beauty Stock Performance

ELF traded down $3.02 during trading hours on Friday, reaching $116.58. The company's stock had a trading volume of 2,120,703 shares, compared to its average volume of 2,376,909. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The firm has a market cap of $6.92 billion, a PE ratio of 68.58, a price-to-earnings-growth ratio of 2.87 and a beta of 1.57. The company's 50-day moving average is $118.82 and its 200-day moving average is $88.43. e.l.f. Beauty has a 52 week low of $49.40 and a 52 week high of $172.49.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share 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 business had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the firm posted $1.10 earnings per share. e.l.f. Beauty's revenue was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current year.

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

In related news, CEO Tarang Amin sold 2,405 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $282,852.05. Following the transaction, the chief executive officer directly owned 186,586 shares of the company's stock, valued at approximately $21,944,379.46. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kory Marchisotto sold 1,496 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $175,944.56. Following the transaction, the insider directly owned 158,303 shares in the company, valued at approximately $18,618,015.83. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,589 shares of company stock valued at $14,547,949 in the last three months. 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.