Oppenheimer Asset Management Inc. Has $435,000 Stake in e.l.f. Beauty $ELF

Key Points

• Oppenheimer Asset Management cut its stake in e.l.f. Beauty by 84.5% in Q4, selling 31,053 shares and leaving it with 5,715 shares valued at about $435,000.
• e.l.f. beat expectations in its latest quarter (EPS $1.24 vs. $0.72 est.; revenue $489.5M, +37.8% YoY), but several brokers have trimmed price targets and the consensus rating is a Moderate Buy with an average target of $103.06.
• Institutional ownership is high at 92.44%, led by Vanguard's 5.49M-share position (~$417.3M), while insiders have been net sellers (210,013 shares sold, ~$13.3M in the last 90 days).

Oppenheimer Asset Management Inc. lowered its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 84.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,715 shares of the company's stock after selling 31,053 shares during the period. Oppenheimer Asset Management Inc.'s holdings in e.l.f. Beauty were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in shares of e.l.f. Beauty by 1.0% in the 4th quarter. New York State Teachers Retirement System now owns 48,694 shares of the company's stock worth $3,703,000 after purchasing an additional 492 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of e.l.f. Beauty by 45.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,522 shares of the company's stock worth $2,245,000 after purchasing an additional 9,201 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of e.l.f. Beauty by 9.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,534 shares of the company's stock worth $649,000 after purchasing an additional 714 shares during the period. Vanguard Group Inc. lifted its position in shares of e.l.f. Beauty by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,487,304 shares of the company's stock worth $417,255,000 after purchasing an additional 140,258 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in shares of e.l.f. Beauty by 39.4% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,246 shares of the company's stock worth $323,000 after purchasing an additional 1,199 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ELF. Evercore began coverage on shares of e.l.f. Beauty in a research report on Thursday, April 2nd. They issued an "inline" rating and a $68.00 price target on the stock. UBS Group lowered their price objective on shares of e.l.f. Beauty from $102.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings lowered shares of e.l.f. Beauty from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. TD Cowen lowered their price objective on shares of e.l.f. Beauty from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, February 9th. Finally, Citigroup lowered their price objective on shares of e.l.f. Beauty from $115.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $103.06.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $61.79 on Friday. The company has a fifty day moving average of $70.01 and a 200-day moving average of $80.94. The firm has a market capitalization of $3.65 billion, a P/E ratio of 34.91, a P/E/G ratio of 3.31 and a beta of 1.71. The company has a quick ratio of 1.89, a current ratio of 2.76 and a debt-to-equity ratio of 0.70. e.l.f. Beauty has a twelve month low of $58.05 and a twelve month high of $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.52. The company had revenue of $489.51 million during the quarter, compared to analyst estimates of $461.78 million. e.l.f. Beauty had a net margin of 6.84% and a return on equity of 15.08%. e.l.f. Beauty's revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, sell-side analysts anticipate that e.l.f. Beauty will post 1.88 EPS for the current year.

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

In other e.l.f. Beauty news, insider Scott Milsten sold 23,797 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,514,917.02. Following the completion of the sale, the insider owned 114,940 shares in the company, valued at approximately $7,317,080.40. The trade was a 17.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mandy J. Fields sold 23,656 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,505,940.96. Following the sale, the insider owned 77,437 shares of the company's stock, valued at $4,929,639.42. This trade represents a 23.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 210,013 shares of company stock worth $13,315,490 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Profile

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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