Swedbank AB Raises Stock Holdings in e.l.f. Beauty $ELF

Key Points

• Swedbank AB increased its stake in e.l.f. Beauty by 42.6% in the 1st quarter, now holding approximately 2.06% of the company valued at $72.7 million.
• A number of analysts have issued strong ratings for e.l.f. Beauty, with targets ranging from $128.00 to $165.00, reflecting investor confidence and a consensus of "Moderate Buy."
• Insider trading activity revealed significant sales, with insider Scott Milsten selling over 55,000 shares valued at around $7.5 million, indicating a 33.09% decrease in ownership.

Swedbank AB lifted its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 42.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,157,760 shares of the company's stock after acquiring an additional 345,760 shares during the quarter. Swedbank AB owned approximately 2.06% of e.l.f. Beauty worth $72,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ELF. Aurora Investment Counsel purchased a new stake in e.l.f. Beauty during the 1st quarter worth about $294,000. Caas Capital Management LP raised its holdings in shares of e.l.f. Beauty by 1,466.7% in the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock valued at $295,000 after acquiring an additional 4,400 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of e.l.f. Beauty by 42.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock valued at $6,482,000 after acquiring an additional 30,530 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of e.l.f. Beauty by 165.6% in the 1st quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock valued at $953,000 after acquiring an additional 9,466 shares in the last quarter. Finally, Generate Investment Management Ltd purchased a new stake in shares of e.l.f. Beauty in the 1st quarter valued at about $21,650,000. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Trading Up 7.0%

Shares of ELF stock traded up $9.40 during trading hours on Monday, reaching $144.62. The company's stock had a trading volume of 1,700,356 shares, compared to its average volume of 1,717,109. The stock has a market capitalization of $8.58 billion, a P/E ratio of 85.07, a P/E/G ratio of 3.28 and a beta of 1.59. e.l.f. Beauty has a one year low of $49.40 and a one year high of $147.33. The firm's fifty day simple moving average is $120.21 and its 200 day simple moving average is $95.71. 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 (NYSE:ELF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The firm had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the company earned $1.10 EPS. The business's quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ELF. Piper Sandler began coverage on e.l.f. Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $150.00 price objective on the stock. Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the company a "buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group set a $165.00 price objective on e.l.f. Beauty in a report on Tuesday, September 9th. UBS Group decreased their price objective on e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Truist Financial raised their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.73.

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

In other news, Director Lauren Cooks Levitan sold 4,630 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $118.94, for a total value of $550,692.20. Following the completion of the transaction, the director owned 11,507 shares in the company, valued at $1,368,642.58. The trade was a 28.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kory Marchisotto sold 13,515 shares of e.l.f. Beauty stock in a transaction on Friday, September 12th. The stock was sold at an average price of $140.10, for a total value of $1,893,451.50. Following the completion of the sale, the insider directly owned 144,788 shares of the company's stock, valued at $20,284,798.80. The trade was a 8.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,722 shares of company stock valued at $19,794,790 in the last ninety days. Corporate insiders own 3.90% of the company's stock.

About e.l.f. Beauty

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.