e.l.f. Beauty (NYSE:ELF) Shares Acquired by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA increased its holdings in e.l.f. Beauty by 25.3%, owning approximately $24.86 million worth of shares after acquiring nearly 80,000 additional shares in the first quarter.
• Analysts have upgraded their price targets for e.l.f. Beauty, with Piper Sandler setting a new price objective of $109.00 and B. Riley lifting it to $150.00, reflecting strong investor confidence.
• e.l.f. Beauty reported quarterly earnings of $0.89 per share, exceeding estimates, alongside a 9% increase in revenue compared to the same quarter last year, indicating robust growth.

Primecap Management Co. CA increased its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 25.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 395,965 shares of the company's stock after buying an additional 79,926 shares during the period. Primecap Management Co. CA owned about 0.70% of e.l.f. Beauty worth $24,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ELF. Aurora Investment Counsel purchased a new position in e.l.f. Beauty in the first quarter valued at about $294,000. Caas Capital Management LP boosted its holdings in shares of e.l.f. Beauty by 1,466.7% in the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock valued at $295,000 after buying an additional 4,400 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of e.l.f. Beauty by 42.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock worth $6,482,000 after buying an additional 30,530 shares during the last quarter. Granahan Investment Management LLC bought a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $9,671,000. Finally, Vontobel Holding Ltd. lifted its position in e.l.f. Beauty by 165.6% during the first quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock valued at $953,000 after acquiring an additional 9,466 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Performance

ELF stock traded up $1.90 during trading on Friday, hitting $101.82. 3,432,529 shares of the company traded hands, compared to its average volume of 2,034,875. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $172.49. The company has a market cap of $5.78 billion, a PE ratio of 59.89, a P/E/G ratio of 2.42 and a beta of 1.57. The stock's 50-day simple moving average is $118.65 and its 200 day simple moving average is $88.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.00.

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 (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The firm had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same period in the previous year, the business posted $1.10 EPS. The business's revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 11,860 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the sale, the senior vice president directly owned 121,967 shares in the company, valued at $14,094,506.52. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kory Marchisotto sold 11,860 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,370,541.60. Following the transaction, the insider owned 159,799 shares in the company, valued at $18,466,372.44. This represents a 6.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,589 shares of company stock valued at $14,547,949. Insiders own 3.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ELF shares. Deutsche Bank Aktiengesellschaft raised e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research report on Friday. JPMorgan Chase & Co. decreased 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. Robert W. Baird raised their price target on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Raymond James Financial upped their price objective on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. Finally, UBS Group lowered their target price on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and an average price target of $122.56.

e.l.f. Beauty Company 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.