Tidal Investments LLC Sells 84,481 Shares of e.l.f. Beauty $ELF

Key Points

• Tidal Investments cut its e.l.f. Beauty stake by 35.8% in the second quarter, selling 84,481 shares and retaining 151,684 shares valued at approximately $11.2 million.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $92.12, although targets range from $85 to $100.
• e.l.f. Beauty reported strong quarterly results, with EPS of $1.75 versus expectations of $0.71 and revenue up 35.5% year over year; however, company insiders sold 116,223 shares worth about $10 million over the past three months.

Tidal Investments LLC lowered its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 35.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,684 shares of the company's stock after selling 84,481 shares during the quarter. Tidal Investments LLC owned 0.26% of e.l.f. Beauty worth $11,225,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of e.l.f. Beauty by 97.0% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company's stock worth $32,000 after purchasing an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock valued at $39,000 after buying an additional 117 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of e.l.f. Beauty in the 4th quarter valued at $32,000. Continuum Advisory LLC acquired a new stake in e.l.f. Beauty during the 2nd quarter worth $31,000. Finally, Johnson Financial Group Inc. acquired a new stake in e.l.f. Beauty during the 3rd quarter worth $64,000. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELF. Jefferies Financial Group boosted their target price on e.l.f. Beauty from $72.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Zacks Research raised e.l.f. Beauty from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Bank of America cut their price objective on e.l.f. Beauty from $93.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. Raymond James Financial boosted their price objective on e.l.f. Beauty from $85.00 to $87.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Citigroup increased their target price on e.l.f. Beauty from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, e.l.f. Beauty has a consensus rating of "Moderate Buy" and an average target price of $92.12.

Insider Transactions at e.l.f. Beauty

In other news, CEO Tarang Amin sold 50,164 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total transaction of $3,924,831.36. Following the completion of the transaction, the chief executive officer directly owned 110,496 shares of the company's stock, valued at $8,645,207.04. This trade represents a 31.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kory Marchisotto sold 12,173 shares of e.l.f. Beauty stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $88.02, for a total transaction of $1,071,467.46. Following the completion of the sale, the insider owned 169,695 shares in the company, valued at $14,936,553.90. This trade represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 116,223 shares of company stock worth $10,000,410. Corporate insiders own 3.50% of the company's stock.

e.l.f. Beauty Price Performance

ELF stock opened at $96.85 on Friday. The stock has a 50-day moving average price of $90.57 and a two-hundred day moving average price of $74.55. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $150.99. The stock has a market cap of $5.72 billion, a PE ratio of 96.85, a price-to-earnings-growth ratio of 2.97 and a beta of 1.60. The company has a current ratio of 2.55, a quick ratio of 1.82 and a debt-to-equity ratio of 0.69.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $1.04. The company had revenue of $479.37 million for the quarter, compared to analyst estimates of $431.20 million. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The company's quarterly revenue was up 35.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Equities analysts forecast that e.l.f. Beauty will post 2.64 EPS for the current fiscal year.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc develops, markets and sells cosmetics, skin care and beauty products. Its portfolio includes e.l.f. Cosmetics, which offers makeup, skin care, tools and accessories, as well as brands such as Naturium, W3LL PEOPLE and Keys Soulcare. The company positions its products as accessible and affordable alternatives across a range of beauty categories.

Founded in 2004, e.l.f. Beauty distributes its products through mass retailers, specialty beauty stores, direct-to-consumer websites and other digital channels.

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