Strs Ohio Takes $2.10 Million Position in e.l.f. Beauty $ELF

Key Points

• Strs Ohio has acquired a new stake in e.l.f. Beauty by purchasing 33,500 shares valued at approximately $2.1 million, now holding about 0.06% of the company.
• Analysts have raised their price targets for e.l.f. Beauty, with Robert W. Baird increasing it from $110 to $145 while maintaining an "outperform" rating.
• e.l.f. Beauty's stock price has seen an increase of 7.0% recently, with shares trading around $144.62 and a 52-week high of $147.33.

Strs Ohio purchased a new stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 33,500 shares of the company's stock, valued at approximately $2,103,000. Strs Ohio owned about 0.06% of e.l.f. Beauty as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of e.l.f. Beauty by 7.1% in the fourth quarter. ProShare Advisors LLC now owns 2,635 shares of the company's stock worth $331,000 after acquiring an additional 174 shares during the last quarter. Signaturefd LLC grew its stake in shares of e.l.f. Beauty by 27.9% in the first 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. State of Michigan Retirement System grew its stake in shares of e.l.f. Beauty by 1.5% in the first quarter. State of Michigan Retirement System now owns 13,500 shares of the company's stock worth $848,000 after acquiring an additional 200 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of e.l.f. Beauty by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $992,000 after acquiring an additional 200 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of e.l.f. Beauty by 19.3% in the first quarter. Advisors Asset Management Inc. now owns 1,279 shares of the company's stock worth $80,000 after acquiring an additional 207 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

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

In related news, insider Jennifer Catherine Hartnett sold 1,304 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $136.32, for a total transaction of $177,761.28. Following the completion of the sale, the insider directly owned 52,599 shares of the company's stock, valued at approximately $7,170,295.68. This represents a 2.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kory Marchisotto sold 10,812 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $1,621,800.00. Following the sale, the insider directly owned 133,976 shares of the company's stock, valued at approximately $20,096,400. The trade was a 7.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,745 shares of company stock worth $25,613,238 in the last quarter. Company insiders own 3.90% of the company's stock.

e.l.f. Beauty Trading Down 4.5%

Shares of e.l.f. Beauty stock traded down $6.62 during trading on Friday, hitting $140.05. 2,370,614 shares of the company were exchanged, compared to its average volume of 1,703,045. The firm has a market capitalization of $8.31 billion, a P/E ratio of 82.38, a price-to-earnings-growth ratio of 3.40 and a beta of 1.59. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99. The firm's fifty day moving average price is $122.52 and its 200 day moving average price is $97.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34.

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, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 EPS. As a group, sell-side analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Robert W. Baird lifted their price target on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. The Goldman Sachs Group lifted their price target on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Canaccord Genuity Group set a $165.00 price target on shares of e.l.f. Beauty in a research note on Tuesday, September 9th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $155.00 price objective (up from $140.00) on shares of e.l.f. Beauty in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, e.l.f. Beauty has an average rating of "Moderate Buy" and an average target price of $133.40.

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.