State Street Corp Buys 75,842 Shares of e.l.f. Beauty $ELF

Key Points

• State Street increased its e.l.f. Beauty stake by 4.2%, purchasing 75,842 shares to reach 1,874,997 shares valued at approximately $138.6 million. Institutional investors and hedge funds collectively own 92.44% of the company.
• Analysts remain broadly positive, with e.l.f. Beauty receiving a consensus “Moderate Buy” rating and an average price target of $97.12; several firms recently raised their targets to between $115 and $118.
• The company reported strong quarterly results, posting $1.75 in EPS and $479.37 million in revenue, surpassing estimates and representing 35.5% year-over-year revenue growth. However, insiders sold 116,223 shares worth about $10 million over the past 90 days.

State Street Corp raised its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 4.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,874,997 shares of the company's stock after buying an additional 75,842 shares during the quarter. State Street Corp owned 3.18% of e.l.f. Beauty worth $138,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $428,262,000. Geode Capital Management LLC raised its stake in e.l.f. Beauty by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 1,040,518 shares of the company's stock valued at $79,138,000 after purchasing an additional 21,016 shares during the period. Primecap Management Co. CA purchased a new stake in shares of e.l.f. Beauty in the second quarter valued at $78,202,000. Capital World Investors lifted its holdings in shares of e.l.f. Beauty by 40.4% in the fourth quarter. Capital World Investors now owns 929,632 shares of the company's stock valued at $70,689,000 after purchasing an additional 267,696 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of e.l.f. Beauty by 3,131.7% in the fourth quarter. BNP Paribas Financial Markets now owns 924,902 shares of the company's stock worth $70,330,000 after buying an additional 896,282 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America lifted their price target on e.l.f. Beauty from $100.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, September 15th. Jefferies Financial Group lifted their target price on e.l.f. Beauty from $72.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Citigroup upped their target price on e.l.f. Beauty from $100.00 to $118.00 and gave the company a "buy" rating in a report on Monday, September 14th. Weiss Ratings raised shares of e.l.f. Beauty from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Finally, B. Riley Financial restated a "buy" rating and set a $115.00 price target (up from $100.00) on shares of e.l.f. Beauty in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and a consensus target price of $97.12.

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

In other e.l.f. Beauty news, CEO Tarang Amin sold 50,164 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $78.24, for a total value of $3,924,831.36. Following the sale, the chief executive officer owned 110,496 shares of the company's stock, valued at $8,645,207.04. This trade represents a 31.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Hartnett sold 25,357 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.00, for a total value of $2,028,560.00. Following the completion of the transaction, the insider directly owned 28,699 shares in the company, valued at approximately $2,295,920. This represents a 46.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 116,223 shares of company stock worth $10,000,410 in the last ninety days. 3.50% of the stock is owned by insiders.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $100.50 on Friday. The firm has a market capitalization of $5.93 billion, a PE ratio of 100.50, a PEG ratio of 2.89 and a beta of 1.60. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $147.75. The company has a current ratio of 2.55, a quick ratio of 1.82 and a debt-to-equity ratio of 0.69. The firm's fifty day simple moving average is $94.68 and its 200 day simple moving average is $75.11.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $1.04. The firm had revenue of $479.37 million during the quarter, compared to analyst estimates of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The business's revenue was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. On average, sell-side analysts anticipate that e.l.f. Beauty will post 2.64 EPS for the current year.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc develops, markets and sells cosmetics, skin care and beauty products. Its portfolio includes e.l.f. Cosmetics, which offers makeup, skin care, tools and accessories, as well as brands such as Naturium, W3LL PEOPLE and Keys Soulcare. The company positions its products as accessible and affordable alternatives across a range of beauty categories.

Founded in 2004, e.l.f. Beauty distributes its products through mass retailers, specialty beauty stores, direct-to-consumer websites and other digital channels.

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