Swedbank AB Sells 884,000 Shares of e.l.f. Beauty $ELF

Key Points

• Swedbank AB cut its e.l.f. Beauty stake by 64.8% in the first quarter, selling 884,000 shares and leaving it with 480,801 shares valued at about $29.1 million.
• Several other institutional investors adjusted positions as well, and overall hedge funds and institutions own 92.44% of e.l.f. Beauty’s stock, indicating heavy institutional ownership.
• Analyst sentiment remains mostly positive despite some lowered price targets: the stock has a Moderate Buy consensus with a $78.31 average target, while e.l.f. Beauty also recently beat quarterly EPS and revenue estimates.

Swedbank AB reduced its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 64.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,801 shares of the company's stock after selling 884,000 shares during the quarter. Swedbank AB owned about 0.81% of e.l.f. Beauty worth $29,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of e.l.f. Beauty by 9.9% in the first quarter. Royal Bank of Canada now owns 153,682 shares of the company's stock worth $9,650,000 after acquiring an additional 13,851 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of e.l.f. Beauty by 168.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,483 shares of the company's stock worth $407,000 after purchasing an additional 4,069 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of e.l.f. Beauty by 176.4% in the 1st quarter. NewEdge Advisors LLC now owns 4,677 shares of the company's stock worth $294,000 after purchasing an additional 2,985 shares during the last quarter. United Services Automobile Association bought a new position in e.l.f. Beauty in the 1st quarter worth about $240,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock valued at $39,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELF. Weiss Ratings raised shares of e.l.f. Beauty from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, June 18th. Citigroup cut their price objective on e.l.f. Beauty from $115.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Jefferies Financial Group cut their price target on e.l.f. Beauty from $85.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $85.00 price target on shares of e.l.f. Beauty in a research report on Thursday, May 21st. Finally, Evercore assumed coverage on shares of e.l.f. Beauty in a research note on Thursday, April 2nd. They issued an "inline" rating and a $68.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.31.

Insider Activity

In other e.l.f. Beauty news, insider Mandy J. Fields sold 23,656 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,505,940.96. Following the sale, the insider owned 77,437 shares in the company, valued at approximately $4,929,639.42. This trade represents a 23.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $3,924,831.36. Following the sale, the chief executive officer owned 110,496 shares in the company, valued at approximately $8,645,207.04. The trade was a 31.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 278,988 shares of company stock worth $18,354,580. 3.90% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock opened at $74.20 on Thursday. e.l.f. Beauty has a one year low of $48.82 and a one year high of $150.99. The stock's fifty day moving average is $60.80 and its 200 day moving average is $71.81. The stock has a market cap of $4.41 billion, a P/E ratio of 161.31, a P/E/G ratio of 2.93 and a beta of 1.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.69 and a current ratio of 2.35.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $449.29 million during the quarter, compared to analyst estimates of $423.06 million. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.e.l.f. Beauty's revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Sell-side analysts anticipate that e.l.f. Beauty will post 2.42 earnings per share for the current year.

e.l.f. Beauty Profile

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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