Swedbank AB Increases Holdings in e.l.f. Beauty $ELF

Key Points

• Swedbank AB increased its stake in e.l.f. Beauty by 97.0% in Q4, buying 672,071 shares to hold 1,364,801 shares (about 2.29% of the company) valued at $103.78 million.
• e.l.f. Beauty posted a strong quarter, beating estimates with EPS $1.24 versus $0.72 and revenue of $489.51 million (up 37.8% year-over-year).
• Institutional ownership is high at 92.44%, insiders have sold about 210,013 shares (~$13.3M) in the last 90 days, and analysts maintain a consensus "Moderate Buy" with an average price target of $103.06 despite several recent target cuts.

Swedbank AB grew its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 97.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,364,801 shares of the company's stock after buying an additional 672,071 shares during the quarter. Swedbank AB owned approximately 2.29% of e.l.f. Beauty worth $103,779,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in e.l.f. Beauty by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 5,487,304 shares of the company's stock valued at $417,255,000 after acquiring an additional 140,258 shares in the last quarter. Capital International Investors boosted its stake in shares of e.l.f. Beauty by 11.9% during the 3rd quarter. Capital International Investors now owns 936,831 shares of the company's stock valued at $124,111,000 after purchasing an additional 99,594 shares in the last quarter. Capital World Investors increased its position in shares of e.l.f. Beauty by 2.1% during the third quarter. Capital World Investors now owns 661,936 shares of the company's stock valued at $87,693,000 after buying an additional 13,880 shares during the period. Bank of America Corp DE raised its stake in e.l.f. Beauty by 22.7% in the second quarter. Bank of America Corp DE now owns 567,582 shares of the company's stock worth $70,630,000 after buying an additional 105,031 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in e.l.f. Beauty by 11.7% in the third quarter. Capital Research Global Investors now owns 546,232 shares of the company's stock worth $72,365,000 after buying an additional 57,241 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Trading Up 3.5%

NYSE ELF opened at $61.49 on Thursday. e.l.f. Beauty has a 12 month low of $58.05 and a 12 month high of $150.99. The company has a current ratio of 2.76, a quick ratio of 1.89 and a debt-to-equity ratio of 0.70. The stock's fifty day moving average price is $70.67 and its 200-day moving average price is $81.47. The stock has a market cap of $3.63 billion, a P/E ratio of 34.74, a P/E/G ratio of 3.20 and a beta of 1.71.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.52. The company had revenue of $489.51 million for the quarter, compared to analysts' expectations of $461.78 million. e.l.f. Beauty had a net margin of 6.84% and a return on equity of 15.08%. The firm's quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. As a group, equities analysts forecast that e.l.f. Beauty will post 1.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ELF shares. Robert W. Baird reduced their target price on e.l.f. Beauty from $115.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, April 28th. UBS Group reduced their price target on e.l.f. Beauty from $102.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen upgraded e.l.f. Beauty from a "sell" rating to a "hold" rating in a report on Saturday, January 24th. Citigroup lowered their price objective on e.l.f. Beauty from $115.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. Finally, TD Cowen dropped their target price on shares of e.l.f. Beauty from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

Insider Activity at e.l.f. Beauty

In other news, insider Scott Milsten sold 23,797 shares of the firm's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,514,917.02. Following the sale, the insider directly owned 114,940 shares in the company, valued at $7,317,080.40. This trade represents a 17.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Catherine Hartnett sold 20,829 shares of e.l.f. Beauty stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,325,974.14. Following the transaction, the insider owned 68,726 shares in the company, valued at approximately $4,375,097.16. This trade represents a 23.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 210,013 shares of company stock valued at $13,315,490 in the last 90 days. 3.90% of the stock is owned by company insiders.

About e.l.f. Beauty

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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