Fulton Bank N.A. Cuts Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Fulton Bank N.A. trimmed its holdings in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 36.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,153 shares of the company's stock after selling 2,934 shares during the period. Fulton Bank N.A.'s holdings in e.l.f. Beauty were worth $324,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in e.l.f. Beauty by 149.8% in the 4th quarter. Principal Financial Group Inc. now owns 328,557 shares of the company's stock valued at $41,250,000 after acquiring an additional 197,028 shares during the period. Global Retirement Partners LLC raised its stake in e.l.f. Beauty by 441.0% in the 4th quarter. Global Retirement Partners LLC now owns 8,283 shares of the company's stock valued at $1,040,000 after acquiring an additional 6,752 shares during the period. Mitchell Capital Management Co. bought a new stake in e.l.f. Beauty in the 4th quarter valued at about $2,655,000. Baillie Gifford & Co. raised its stake in e.l.f. Beauty by 51.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company's stock valued at $1,005,584,000 after acquiring an additional 2,703,742 shares during the period. Finally, Granahan Investment Management LLC bought a new stake in e.l.f. Beauty in the 4th quarter valued at about $9,671,000. 92.44% of the stock is currently owned by institutional investors.

Insider Activity at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 51,353 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the completion of the transaction, the senior vice president now owns 114,660 shares in the company, valued at $6,118,257.60. This represents a 30.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maureen C. Watson sold 3,875 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $115.00, for a total value of $445,625.00. Following the completion of the transaction, the director now owns 1,888 shares of the company's stock, valued at approximately $217,120. This trade represents a 67.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 309,375 shares of company stock worth $23,170,147 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ELF shares. Raymond James boosted their price objective on e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. DA Davidson reduced their target price on e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Piper Sandler reaffirmed an "overweight" rating and set a $109.00 target price (up previously from $81.00) on shares of e.l.f. Beauty in a report on Thursday, May 29th. Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Canaccord Genuity Group set a $114.00 target price on e.l.f. Beauty in a report on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.71.

e.l.f. Beauty Trading Up 1.8%

ELF stock traded up $2.03 during midday trading on Friday, hitting $117.83. The company had a trading volume of 1,992,555 shares, compared to its average volume of 2,520,330. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20. e.l.f. Beauty, Inc. has a 52 week low of $49.40 and a 52 week high of $219.77. The stock's 50 day moving average price is $71.30 and its 200 day moving average price is $91.67. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 69.72, a PEG ratio of 6.76 and a beta of 1.31.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $332.65 million during the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. The business's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts expect that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

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.