Generate Investment Management Ltd Takes $21.65 Million Position in e.l.f. Beauty (NYSE:ELF)

Generate Investment Management Ltd purchased a new stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 344,805 shares of the company's stock, valued at approximately $21,650,000. e.l.f. Beauty makes up about 1.5% of Generate Investment Management Ltd's investment portfolio, making the stock its 22nd largest position. Generate Investment Management Ltd owned 0.61% of e.l.f. Beauty at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. grew its holdings in shares of e.l.f. Beauty by 61.8% in the fourth quarter. Principal Securities Inc. now owns 1,178 shares of the company's stock valued at $148,000 after acquiring an additional 450 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of e.l.f. Beauty during the 4th quarter valued at $211,000. Truist Financial Corp raised its stake in shares of e.l.f. Beauty by 1.3% during the 4th quarter. Truist Financial Corp now owns 7,885 shares of the company's stock worth $990,000 after purchasing an additional 102 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in shares of e.l.f. Beauty by 7.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,089 shares of the company's stock worth $262,000 after buying an additional 150 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in e.l.f. Beauty by 2.5% during the fourth quarter. New York State Common Retirement Fund now owns 35,350 shares of the company's stock valued at $4,438,000 after buying an additional 848 shares during the period. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Trading Down 0.4%

Shares of ELF stock traded down $0.49 on Thursday, hitting $124.92. 1,500,752 shares of the company's stock traded hands, compared to its average volume of 2,560,853. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 54.76, a P/E/G ratio of 2.97 and a beta of 1.52. The company's fifty day simple moving average is $90.23 and its 200 day simple moving average is $91.15. e.l.f. Beauty has a one year low of $49.40 and a one year high of $219.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05.

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 firm 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%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ELF shares. Morgan Stanley boosted their target price on shares of e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. DA Davidson lowered their target price on e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Piper Sandler reiterated an "overweight" rating and set a $109.00 target price (up previously from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. UBS Group raised their price target on e.l.f. Beauty from $59.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Finally, Bank of America raised their target price on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and an average price target of $118.88.

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

In related news, insider Jennifer Catherine Hartnett sold 18,383 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $109.99, for a total value of $2,021,946.17. Following the sale, the insider now owns 54,163 shares in the company, valued at $5,957,388.37. This represents a 25.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Tarang Amin sold 97,915 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $53.36, for a total value of $5,224,744.40. Following the completion of the sale, the chief executive officer now directly owns 181,289 shares in the company, valued at $9,673,581.04. This trade represents a 35.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,207 shares of company stock valued at $25,252,926 in the last quarter. Company insiders own 3.50% of the company's stock.

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.