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

Key Points

• Swedbank AB has reduced its stake in e.l.f. Beauty by 40.1% in the second quarter, now owning about 1.23% of the company.
• Insider sales include a significant transaction by SVP Joshua Allen Franks, who sold 7,913 shares valued at $1,147,385, marking a 7.38% decrease in his holdings.
• Analysts have increased their price targets for e.l.f. Beauty, with projections ranging from $115.00 to $165.00, indicating a positive outlook for the company.

Swedbank AB cut its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 40.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 693,140 shares of the company's stock after selling 464,620 shares during the quarter. Swedbank AB owned approximately 1.23% of e.l.f. Beauty worth $86,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in e.l.f. Beauty during the fourth quarter worth $30,000. Golden State Wealth Management LLC bought a new position in shares of e.l.f. Beauty in the first quarter valued at $33,000. Larson Financial Group LLC lifted its stake in shares of e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after buying an additional 244 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of e.l.f. Beauty by 577.7% in the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after buying an additional 647 shares in the last quarter. Finally, Signaturefd LLC lifted 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 valued at $54,000 after buying an additional 187 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

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

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 7,913 shares of e.l.f. Beauty stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the completion of the sale, the senior vice president directly owned 99,369 shares in the company, valued at $14,408,505. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mandy J. Fields sold 5,298 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $150.21, for a total transaction of $795,812.58. Following the sale, the insider owned 58,856 shares of the company's stock, valued at approximately $8,840,759.76. The trade was a 8.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,745 shares of company stock valued at $25,613,238 over the last quarter. Company insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

ELF has been the topic of a number of recent research reports. Piper Sandler initiated coverage on shares of e.l.f. Beauty in a research note on Thursday, September 4th. They issued an "overweight" rating and a $150.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of e.l.f. Beauty from a "buy" rating to a "hold" rating and increased their target price for the company from $121.00 to $128.00 in a report on Tuesday, September 2nd. Morgan Stanley upgraded shares of e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $114.00 to $134.00 in a report on Monday, August 11th. Bank of America increased their target price on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Finally, UBS Group lowered their target price on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.40.

e.l.f. Beauty Price Performance

Shares of ELF stock traded down $2.56 during trading hours on Monday, reaching $137.40. The stock had a trading volume of 1,572,334 shares, compared to its average volume of 1,748,969. The stock's fifty day simple moving average is $123.15 and its 200 day simple moving average is $98.41. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $150.99. The firm has a market capitalization of $8.15 billion, a PE ratio of 80.83, a PEG ratio of 3.25 and a beta of 1.59.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $348.99 million. During the same period last year, the business earned $1.10 earnings per share. e.l.f. Beauty's revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that e.l.f. Beauty will post 2.38 EPS for the current 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.