Nuveen LLC Makes New Investment in e.l.f. Beauty $ELF

Key Points

• Nuveen LLC has acquired a new stake in e.l.f. Beauty, purchasing 132,533 shares valued at approximately $8.32 million, which represents about 0.23% of the company.
• e.l.f. Beauty's stock opened at $118.25, showing a 1.7% increase, with a market capitalization of $7.01 billion.
• After beating earnings expectations with $0.89 EPS for the last quarter, e.l.f. Beauty's stock has garnered several upgraded ratings from brokers, boosting its price targets significantly.

Nuveen LLC purchased a new position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 132,533 shares of the company's stock, valued at approximately $8,322,000. Nuveen LLC owned about 0.23% of e.l.f. Beauty at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of e.l.f. Beauty during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC purchased a new stake in shares of e.l.f. Beauty during the first quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in shares of e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after purchasing an additional 244 shares during the last quarter. Signaturefd LLC raised its stake in shares of e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after purchasing an additional 187 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of e.l.f. Beauty during the first quarter worth approximately $69,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock traded up $3.74 during trading hours on Thursday, hitting $128.64. The stock had a trading volume of 1,580,643 shares, compared to its average volume of 2,662,088. 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 stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 2.84 and a beta of 1.57. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $155.33. The stock's fifty day moving average is $118.14 and its two-hundred day moving average is $90.01.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $353.74 million for 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%.e.l.f. Beauty's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

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

In other e.l.f. Beauty news, insider Jennifer Catherine Hartnett sold 9,506 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $116.52, for a total value of $1,107,639.12. Following the sale, the insider directly owned 53,903 shares of the company's stock, valued at approximately $6,280,777.56. This trade represents a 14.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joshua Allen Franks sold 1,496 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $117.61, for a total value of $175,944.56. Following the completion of the sale, the senior vice president directly owned 120,471 shares in the company, valued at approximately $14,168,594.31. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,836 shares of company stock valued at $13,076,695. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Truist Financial increased their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the stock a "buy" rating in a research report on Thursday, May 29th. Morgan Stanley upgraded e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $114.00 to $134.00 in a research report on Monday, August 11th. Finally, The Goldman Sachs Group increased their price objective on e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has an average rating of "Moderate Buy" and an average price target of $123.81.

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.