Envestnet Portfolio Solutions Inc. Purchases 3,570 Shares of e.l.f. Beauty $ELF

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in e.l.f. Beauty by 49.5% in Q2, now owning a total of 10,782 shares valued at approximately $1,342,000.
• A significant portion of e.l.f. Beauty's stock, 92.44%, is held by institutional investors, with various funds increasing their stakes recently.
• e.l.f. Beauty reported a 9.0% increase in revenue year-over-year, with an EPS of $0.89, exceeding analyst expectations of $0.84.

Envestnet Portfolio Solutions Inc. boosted its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 49.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,782 shares of the company's stock after purchasing an additional 3,570 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in e.l.f. Beauty were worth $1,342,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in e.l.f. Beauty by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock worth $1,979,000 after purchasing an additional 100 shares in the last quarter. Farther Finance Advisors LLC grew its position in e.l.f. Beauty by 11.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 993 shares of the company's stock worth $124,000 after purchasing an additional 105 shares in the last quarter. Signaturefd LLC grew its position in e.l.f. Beauty by 27.9% in the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after purchasing an additional 187 shares in the last quarter. State of Michigan Retirement System grew its position in e.l.f. Beauty by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 13,500 shares of the company's stock worth $848,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in e.l.f. Beauty by 10.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,205 shares of the company's stock worth $274,000 after purchasing an additional 206 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Buying and Selling

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 value of $1,147,385.00. Following the completion of the transaction, the senior vice president directly owned 99,369 shares of the company's stock, valued at approximately $14,408,505. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kory Marchisotto sold 13,515 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $140.10, for a total transaction of $1,893,451.50. Following the completion of the transaction, the insider directly owned 144,788 shares of the company's stock, valued at approximately $20,284,798.80. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,060 shares of company stock worth $40,994,733 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

e.l.f. Beauty Stock Up 0.6%

ELF opened at $136.66 on Friday. The company has a 50 day moving average of $131.05 and a 200 day moving average of $107.07. The company has a market cap of $8.11 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 3.15 and a beta of 1.57. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $150.99. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. e.l.f. Beauty's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. On average, sell-side analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ELF. Piper Sandler assumed coverage on shares of e.l.f. Beauty in a research note on Thursday, September 4th. They issued an "overweight" rating and a $150.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of e.l.f. Beauty from $130.00 to $168.00 and gave the company an "overweight" rating in a research report on Friday, October 10th. Bank of America increased their target price on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Morgan Stanley increased their target price on shares of e.l.f. Beauty from $134.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group set a $165.00 target price on shares of e.l.f. Beauty in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.07.

e.l.f. Beauty Company 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.

Want to see what other hedge funds are holding ELF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for e.l.f. Beauty (NYSE:ELF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.