Janney Montgomery Scott LLC Decreases Holdings in e.l.f. Beauty (NYSE:ELF)

Janney Montgomery Scott LLC decreased its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,289 shares of the company's stock after selling 12,100 shares during the period. Janney Montgomery Scott LLC's holdings in e.l.f. Beauty were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC boosted its position 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 valued at $279,531,000 after acquiring an additional 1,111,550 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of e.l.f. Beauty by 40.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company's stock valued at $289,437,000 after purchasing an additional 669,321 shares in the last quarter. Aspex Management HK Ltd bought a new stake in shares of e.l.f. Beauty during the 4th quarter valued at about $73,576,000. Raymond James Financial Inc. acquired a new stake in e.l.f. Beauty during the fourth quarter worth approximately $68,775,000. Finally, AXA S.A. increased its holdings in e.l.f. Beauty by 2,074.4% in the fourth quarter. AXA S.A. now owns 394,005 shares of the company's stock worth $49,467,000 after purchasing an additional 375,885 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ELF. Bank of America raised their price objective on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Robert W. Baird raised their price target on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Canaccord Genuity Group set a $114.00 price objective on shares of e.l.f. Beauty in a report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $109.00 price objective (up previously from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Finally, Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. Five 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.88.

e.l.f. Beauty Stock Up 0.9%

Shares of ELF stock traded up $1.08 during trading hours on Wednesday, reaching $127.75. The company had a trading volume of 118,585 shares, compared to its average volume of 2,526,819. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 65.94, a price-to-earnings-growth ratio of 2.95 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.05 and a quick ratio of 2.00. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $219.77. The business has a fifty day simple moving average of $96.00 and a 200-day simple moving average of $90.49.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly 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. The business had revenue of $332.65 million during the quarter, compared to analyst estimates of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. e.l.f. Beauty's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insider Activity at e.l.f. Beauty

In other 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 completion of the transaction, the insider directly owned 54,163 shares of the company's stock, valued at $5,957,388.37. This represents a 25.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Joshua Allen Franks sold 51,353 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,196.08. Following the sale, the senior vice president directly owned 114,660 shares of the company's stock, valued at $6,118,257.60. The trade was a 30.93% 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 over the last three months. Insiders own 3.50% of the company's stock.

About e.l.f. Beauty

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.