Tredje AP fonden Has $5.65 Million Stock 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% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,000 shares of the company's stock after purchasing an additional 45,000 shares during the period. Tredje AP fonden owned 0.16% of e.l.f. Beauty worth $5,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC increased its stake in shares of e.l.f. Beauty by 99.7% in the 4th quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company's stock valued at $279,531,000 after acquiring an additional 1,111,550 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of e.l.f. Beauty by 53.7% in the 1st quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock valued at $58,958,000 after acquiring an additional 327,980 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of e.l.f. Beauty by 68.0% in the 1st quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock valued at $54,167,000 after acquiring an additional 349,024 shares during the last quarter. Aspex Management HK Ltd bought a new stake in shares of e.l.f. Beauty in the 4th quarter valued at about $73,576,000. Finally, Northern Trust Corp increased its stake 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 valued at $58,479,000 after acquiring an additional 80,175 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Tarang Amin sold 24,533 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $2,835,033.48. Following the completion of the transaction, the chief executive officer directly owned 188,991 shares of the company's stock, valued at approximately $21,839,799.96. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Catherine Hartnett sold 18,383 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $109.99, for a total transaction of $2,021,946.17. Following the completion of the transaction, the insider directly owned 54,163 shares of the company's stock, valued at $5,957,388.37. This represents a 25.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,589 shares of company stock valued at $14,547,949 in the last ninety days. 3.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ELF has been the subject of a number of recent analyst reports. B. Riley reaffirmed a "buy" rating and issued a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. Robert W. Baird upped their price target 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. JPMorgan Chase & Co. upped their price target on e.l.f. Beauty from $123.00 to $132.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Bank of America increased their target price on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, Raymond James Financial increased their target price on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $123.94.

e.l.f. Beauty Stock Down 0.8%

NYSE:ELF traded down $0.88 during trading hours on Monday, reaching $115.55. 633,999 shares of the stock were exchanged, compared to its average volume of 2,658,179. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $190.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.05 and a quick ratio of 2.00. The firm has a 50 day moving average of $117.70 and a 200 day moving average of $88.42. The stock has a market cap of $6.56 billion, a PE ratio of 59.99, a PEG ratio of 2.77 and a beta of 1.57.

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