Savoir Faire Capital Management L.P. Decreases Holdings in e.l.f. Beauty (NYSE:ELF)

Savoir Faire Capital Management L.P. reduced its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 83.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,491 shares of the company's stock after selling 81,859 shares during the period. Savoir Faire Capital Management L.P.'s holdings in e.l.f. Beauty were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new position in e.l.f. Beauty in the 4th quarter valued at $27,000. Orion Capital Management LLC bought a new position in shares of e.l.f. Beauty in the 4th quarter valued at $30,000. Golden State Wealth Management LLC bought a new stake in e.l.f. Beauty during the 1st quarter worth $33,000. Larson Financial Group LLC grew its position in e.l.f. Beauty by 56.5% during the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after acquiring an additional 244 shares during the last quarter. Finally, Signaturefd LLC grew its position in e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after acquiring an additional 187 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 2,405 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $282,852.05. Following the completion of the transaction, the chief executive officer directly owned 186,586 shares in the company, valued at $21,944,379.46. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kory Marchisotto sold 1,496 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $175,944.56. Following the completion of the transaction, the insider owned 158,303 shares of the company's stock, valued at approximately $18,618,015.83. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,207 shares of company stock worth $25,252,926. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. UBS Group boosted their price objective on e.l.f. Beauty from $95.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday. Bank of America boosted their price objective on e.l.f. Beauty from $113.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Truist Financial boosted their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, B. Riley reaffirmed a "buy" rating and set a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.38.

e.l.f. Beauty Price Performance

NYSE:ELF traded up $6.86 during trading hours on Friday, hitting $117.76. 2,540,070 shares of the company's stock traded hands, compared to its average volume of 2,569,434. The firm has a market cap of $6.68 billion, a P/E ratio of 61.02, a P/E/G ratio of 2.78 and a beta of 1.52. e.l.f. Beauty has a 52 week low of $49.40 and a 52 week high of $190.38. The business's fifty day simple moving average is $109.84 and its two-hundred day simple moving average is $89.60. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted 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 company had revenue of $332.65 million for the quarter, compared to analysts' expectations of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. e.l.f. Beauty's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. On average, research analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

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.