Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in e.l.f. Beauty (NYSE:ELF)

Envestnet Portfolio Solutions Inc. reduced its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 32.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,212 shares of the company's stock after selling 3,418 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in e.l.f. Beauty were worth $453,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in e.l.f. Beauty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock worth $690,174,000 after purchasing an additional 68,103 shares in the last quarter. William Blair Investment Management LLC raised its holdings in e.l.f. Beauty by 40.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company's stock worth $289,437,000 after purchasing an additional 669,321 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in e.l.f. Beauty by 99.7% during the fourth quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company's stock worth $279,531,000 after purchasing an additional 1,111,550 shares in the last quarter. Clearbridge Investments LLC raised its holdings in e.l.f. Beauty by 17.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company's stock worth $222,541,000 after purchasing an additional 264,296 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in e.l.f. Beauty by 53.7% during the first quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock worth $58,958,000 after purchasing an additional 327,980 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ELF. Truist Financial upped their target price on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. UBS Group upped their target price on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Jefferies Financial Group set a $115.00 target price on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research report on Thursday, May 29th. Raymond James Financial upped their target price on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Finally, DA Davidson lowered their target price on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $118.88.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $126.38 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. The company has a market cap of $7.12 billion, a P/E ratio of 65.48, a P/E/G ratio of 2.96 and a beta of 1.52. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $219.77. The firm's 50 day moving average is $93.15 and its two-hundred day moving average is $90.97.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The business had revenue of $332.65 million for the quarter, compared to the consensus estimate of $327.45 million. During the same quarter last year, the firm posted $0.53 EPS. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Activity

In related news, SVP Joshua Allen Franks sold 51,353 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the completion of the sale, the senior vice president now directly owns 114,660 shares of the company's stock, valued at approximately $6,118,257.60. This trade represents a 30.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Catherine Hartnett sold 9,506 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $116.52, for a total transaction of $1,107,639.12. Following the sale, the insider now directly owns 53,903 shares of the company's stock, valued at approximately $6,280,777.56. The trade was a 14.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,207 shares of company stock valued at $25,252,926. Company insiders own 3.50% 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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