Oak Thistle LLC Acquires 5,917 Shares of e.l.f. Beauty (NYSE:ELF)

Oak Thistle LLC grew its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 231.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,468 shares of the company's stock after acquiring an additional 5,917 shares during the period. Oak Thistle LLC's holdings in e.l.f. Beauty were worth $532,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Nemes Rush Group LLC bought a new position in e.l.f. Beauty during the fourth quarter worth about $27,000. Orion Capital Management LLC bought a new stake in shares of e.l.f. Beauty during the fourth quarter worth $30,000. Golden State Wealth Management LLC bought a new stake in shares of e.l.f. Beauty during the first quarter worth $33,000. Larson Financial Group LLC grew its stake in shares of e.l.f. Beauty by 56.5% in 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. Finally, Signaturefd LLC grew its stake in shares of e.l.f. Beauty by 27.9% in 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. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Up 1.3%

NYSE ELF traded up $1.53 during trading hours on Friday, reaching $120.75. 1,354,555 shares of the company's stock traded hands, compared to its average volume of 1,746,719. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $190.38. The firm has a market cap of $6.85 billion, a PE ratio of 62.56, a PEG ratio of 2.83 and a beta of 1.52. The firm has a 50-day simple moving average of $113.80 and a 200 day simple moving average of $89.31. 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 (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $332.65 million during the quarter, compared to analysts' expectations of $327.45 million. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Sell-side analysts anticipate that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ELF has been the topic of several research reports. B. Riley reiterated a "buy" rating and set a $150.00 price objective (up previously from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Piper Sandler reissued an "overweight" rating and set a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. 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 report on Friday, June 20th. UBS Group increased their target price on shares of e.l.f. Beauty from $95.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Truist Financial lifted their target price on shares of 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. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.94.

Insider Activity

In related news, SVP Joshua Allen Franks sold 11,860 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the completion of the sale, the senior vice president directly owned 121,967 shares in the company, valued at approximately $14,094,506.52. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Catherine Hartnett sold 18,383 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $109.99, for a total transaction of $2,021,946.17. Following the sale, the insider owned 54,163 shares of the company's stock, valued at $5,957,388.37. This trade represents a 25.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,589 shares of company stock valued at $14,547,949 over the last three months. Corporate insiders own 3.90% 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.