Nuveen Asset Management LLC Reduces Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Nuveen Asset Management LLC cut its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,656 shares of the company's stock after selling 51,576 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.34% of e.l.f. Beauty worth $24,314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ELF. Baillie Gifford & Co. grew its stake in shares of e.l.f. Beauty by 51.0% during 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. Champlain Investment Partners LLC grew its stake in shares of e.l.f. Beauty by 99.7% during the 4th 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 period. William Blair Investment Management LLC grew its stake 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 acquiring an additional 669,321 shares during the period. Aspex Management HK Ltd bought a new position in shares of e.l.f. Beauty during the 4th quarter valued at approximately $73,576,000. Finally, Raymond James Financial Inc. bought a new position in shares of e.l.f. Beauty during the 4th quarter valued at approximately $68,775,000. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Price Performance

Shares of ELF traded up $6.24 during mid-day trading on Tuesday, hitting $90.17. 2,689,559 shares of the stock were exchanged, compared to its average volume of 2,392,351. The company has a market cap of $5.09 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 6.76 and a beta of 1.31. e.l.f. Beauty, Inc. has a 52-week low of $49.40 and a 52-week high of $219.77. The firm has a 50-day moving average of $64.21 and a two-hundred day moving average of $92.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90.

Analysts Set New Price Targets

ELF has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective on e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Canaccord Genuity Group dropped their price target on e.l.f. Beauty from $174.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, February 7th. UBS Group upped their price target on e.l.f. Beauty from $59.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Truist Financial dropped their price target on e.l.f. Beauty from $100.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Bank of America upped their price target on e.l.f. Beauty from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty has an average rating of "Moderate Buy" and an average target price of $110.41.

Insider Transactions at e.l.f. Beauty

In related news, Director Maureen C. Watson sold 4,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the sale, the director now directly owns 1,888 shares in the company, valued at $127,232.32. This trade represents a 67.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Allen Franks sold 51,353 shares of e.l.f. Beauty stock in a transaction 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 transaction, the senior vice president now directly owns 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 have sold 204,618 shares of company stock valued at $10,974,536 in the last ninety days. Corporate insiders own 3.50% of the company's stock.

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.