Sit Investment Associates Inc. Takes $769,000 Position in e.l.f. Beauty $ELF

Key Points

• Sit Investment Associates Inc. acquired 12,250 shares of e.l.f. Beauty, valued at approximately $769,000, in the 1st quarter.
• e.l.f. Beauty reported earnings of $0.89 per share for the last quarter, beating analysts' expectations, and experienced a year-over-year revenue increase of 9%.
• Over 92% of e.l.f. Beauty's stock is owned by institutional investors, indicating significant investor confidence in the company.

Sit Investment Associates Inc. bought a new position in e.l.f. Beauty (NYSE:ELF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,250 shares of the company's stock, valued at approximately $769,000.

Other hedge funds also recently modified their holdings of the company. Aurora Investment Counsel acquired a new position in shares of e.l.f. Beauty during the 1st quarter worth $294,000. Caas Capital Management LP increased its stake in shares of e.l.f. Beauty by 1,466.7% during the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock worth $295,000 after purchasing an additional 4,400 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of e.l.f. Beauty by 42.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock worth $6,482,000 after purchasing an additional 30,530 shares during the last quarter. Granahan Investment Management LLC acquired a new position in shares of e.l.f. Beauty during the 4th quarter worth $9,671,000. Finally, Vontobel Holding Ltd. increased its stake in shares of e.l.f. Beauty by 165.6% during the 1st quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock worth $953,000 after purchasing an additional 9,466 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Trading Down 0.8%

NYSE ELF traded down $0.9930 during trading on Wednesday, reaching $118.8370. 982,078 shares of the stock traded hands, compared to its average volume of 2,694,808. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $172.49. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $119.00 and its 200 day moving average price is $88.69.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly 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. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The company had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. Analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Activity

In other e.l.f. Beauty news, CEO Tarang Amin sold 2,405 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total transaction of $282,852.05. Following the sale, the chief executive officer directly owned 186,586 shares of the company's stock, valued at approximately $21,944,379.46. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kory Marchisotto sold 1,496 shares of the company's stock in a transaction 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 sale, the insider directly owned 158,303 shares in the company, valued at $18,618,015.83. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 131,219 shares of company stock valued at $15,098,642. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ELF has been the topic of several analyst reports. Bank of America increased their price target on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Jefferies Financial Group set a $115.00 target price on shares of e.l.f. Beauty and gave the company a "buy" rating in a research note on Thursday, May 29th. Truist Financial raised their target price on shares of 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. Piper Sandler reiterated an "overweight" rating and issued a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Finally, Raymond James Financial raised their price objective on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.81.

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.