Granahan Investment Management LLC Has $10.47 Million Position in e.l.f. Beauty $ELF

Key Points

• Granahan Investment Management LLC increased its stake in e.l.f. Beauty by 116.4%, now owning 166,704 shares valued at approximately $10.47 million.
• Director Lauren Cooks Levitan sold 4,630 shares at an average price of $118.94, reducing her position by 28.69%.
• e.l.f. Beauty recently reported earnings of $0.89 EPS, surpassing expectations and showing a 9.0% revenue increase year-over-year.

Granahan Investment Management LLC lifted its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 116.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,704 shares of the company's stock after buying an additional 89,675 shares during the quarter. Granahan Investment Management LLC owned about 0.30% of e.l.f. Beauty worth $10,467,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of e.l.f. Beauty during the fourth quarter valued at about $30,000. Golden State Wealth Management LLC bought a new stake in shares of e.l.f. Beauty in the first quarter valued at approximately $33,000. Larson Financial Group LLC grew its stake in e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after acquiring an additional 647 shares in the last quarter. Finally, Signaturefd LLC grew its stake 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 buying an additional 187 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Up 1.1%

ELF traded up $1.56 on Tuesday, reaching $139.56. The company's stock had a trading volume of 1,522,832 shares, compared to its average volume of 2,636,507. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. The business's 50 day moving average is $119.17 and its 200 day moving average is $93.39. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 82.09, a price-to-earnings-growth ratio of 3.24 and a beta of 1.59. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $147.33.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company's revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. As a group, research analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ELF has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $115.00 price target on shares of e.l.f. Beauty and gave the company a "buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group set a $165.00 target price on shares of e.l.f. Beauty in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Morgan Stanley upgraded e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $114.00 to $134.00 in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average price target of $132.25.

Insider Activity

In other news, Director Lauren Cooks Levitan sold 4,630 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $118.94, for a total value of $550,692.20. Following the completion of the transaction, the director owned 11,507 shares in the company, valued at $1,368,642.58. This trade represents a 28.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is owned by corporate insiders.

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.