Tredje AP fonden Has $5.65 Million Holdings in e.l.f. Beauty (NYSE:ELF)

Key Points

• Tredje AP fonden has doubled its stake in e.l.f. Beauty, increasing its holdings by 100% to 90,000 shares, valued at approximately $5.65 million.
• Several large investors have also adjusted their positions, with a total of 92.44% of e.l.f. Beauty's stock now owned by institutional investors.
• e.l.f. Beauty recently beat earnings expectations with an EPS of $0.78 and reported revenue of $332.65 million, which is a 3.6% increase from the same quarter last year.

Tredje AP fonden raised its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 100.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the company's stock after purchasing an additional 45,000 shares during the quarter. Tredje AP fonden owned 0.16% of e.l.f. Beauty worth $5,651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Champlain Investment Partners LLC grew its stake in e.l.f. Beauty by 99.7% during the 4th quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company's stock valued at $279,531,000 after purchasing an additional 1,111,550 shares in the last quarter. Congress Asset Management Co. lifted its holdings in e.l.f. Beauty by 53.7% during the 1st quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock worth $58,958,000 after buying an additional 327,980 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in e.l.f. Beauty by 68.0% during the 1st quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock worth $54,167,000 after buying an additional 349,024 shares during the last quarter. Aspex Management HK Ltd bought a new position in e.l.f. Beauty during the 4th quarter worth approximately $73,576,000. Finally, Northern Trust Corp lifted its holdings in shares of e.l.f. Beauty by 20.8% in the 4th quarter. Northern Trust Corp now owns 465,786 shares of the company's stock worth $58,479,000 after purchasing an additional 80,175 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELF. Raymond James Financial raised their price target on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group raised their price target on e.l.f. Beauty from $114.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group set a $115.00 price target on e.l.f. Beauty and gave the stock a "buy" rating in a report on Thursday, May 29th. Truist Financial lifted their target price on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Robert W. Baird lifted their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.94.

Insiders Place Their Bets

In related news, insider Jennifer Catherine Hartnett sold 18,383 shares of e.l.f. Beauty stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $109.99, for a total value of $2,021,946.17. Following the transaction, the insider directly owned 54,163 shares in the company, valued at $5,957,388.37. The trade was a 25.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott Milsten sold 11,860 shares of e.l.f. Beauty stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,370,541.60. Following the completion of the transaction, the insider owned 118,836 shares in the company, valued at $13,732,688.16. The trade was a 9.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,589 shares of company stock worth $14,547,949. Corporate insiders own 3.90% of the company's stock.

e.l.f. Beauty Price Performance

Shares of ELF stock traded down $4.58 during mid-day trading on Friday, hitting $116.61. 1,369,815 shares of the stock traded hands, compared to its average volume of 1,693,364. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $190.38. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 60.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.57. The company's 50-day simple moving average is $117.70 and its 200-day simple moving average is $89.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The company had revenue of $332.65 million for the quarter, compared to analysts' expectations of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. As a group, equities research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current year.

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.