Envestnet Asset Management Inc. Decreases Holdings in e.l.f. Beauty (NYSE:ELF)

Envestnet Asset Management Inc. lowered its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,265 shares of the company's stock after selling 18,408 shares during the period. Envestnet Asset Management Inc. owned about 0.32% of e.l.f. Beauty worth $11,319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ELF. Nemes Rush Group LLC purchased a new position in shares of e.l.f. Beauty during the 4th quarter valued at $27,000. Orion Capital Management LLC purchased a new position in shares of e.l.f. Beauty during the 4th quarter valued at $30,000. Golden State Wealth Management LLC purchased a new position in shares of e.l.f. Beauty during the 1st quarter valued at $33,000. Covestor Ltd lifted its position in shares of e.l.f. Beauty by 55.7% during the 4th quarter. Covestor Ltd now owns 928 shares of the company's stock valued at $117,000 after buying an additional 332 shares during the last quarter. Finally, RiverPark Advisors LLC lifted its holdings in e.l.f. Beauty by 34.9% during the 4th quarter. RiverPark Advisors LLC now owns 1,271 shares of the company's stock worth $160,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Trading Up 6.2%

ELF stock traded up $6.86 during midday trading on Friday, reaching $117.76. 2,540,070 shares of the company traded hands, compared to its average volume of 2,569,434. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $190.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05. The business has a 50 day moving average of $109.84 and a 200-day moving average of $89.35. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 61.02, a P/E/G ratio of 2.78 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $332.65 million for the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. e.l.f. Beauty's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. As a group, sell-side analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other news, insider Jennifer Catherine Hartnett sold 18,383 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $109.99, for a total transaction of $2,021,946.17. Following the completion of the transaction, the insider directly owned 54,163 shares in the company, valued at $5,957,388.37. This trade represents a 25.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 51,353 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,196.08. Following the completion of the sale, the senior vice president owned 114,660 shares in the company, valued at approximately $6,118,257.60. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,207 shares of company stock worth $25,252,926 over the last quarter. Company insiders own 3.90% of the company's stock.

Analyst Ratings Changes

ELF has been the topic of several recent research reports. Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. Truist Financial raised their price objective on 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. Bank of America lifted their target price on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Canaccord Genuity Group upped their price target on e.l.f. Beauty from $114.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on e.l.f. Beauty from $70.00 to $123.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $123.38.

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.