Vontobel Holding Ltd. Cuts Stock Position in e.l.f. Beauty $ELF

Key Points

• Vontobel Holding Ltd. significantly reduced its stake in e.l.f. Beauty by 64.1%, selling 9,728 shares during the second quarter, resulting in ownership of 5,453 shares valued at approximately $679,000.
• Insiders at e.l.f. Beauty sold over 301,000 shares of the company's stock totaling nearly $41 million in the past ninety days, indicating potential changes in their investment strategies.
• Several analysts have recently updated their price targets for e.l.f. Beauty, with Morgan Stanley and Goldman Sachs raising their targets significantly, reflecting positive sentiment about the company's future performance.

Vontobel Holding Ltd. reduced its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 64.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,453 shares of the company's stock after selling 9,728 shares during the period. Vontobel Holding Ltd.'s holdings in e.l.f. Beauty were worth $679,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in e.l.f. Beauty during the 1st quarter valued at about $33,000. Larson Financial Group LLC grew its holdings in shares of e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after buying an additional 244 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after buying an additional 647 shares during the last quarter. Signaturefd LLC grew its holdings in shares of e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after buying an additional 187 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of e.l.f. Beauty by 6,242.9% during the first quarter. Brooklyn Investment Group now owns 888 shares of the company's stock valued at $56,000 after buying an additional 874 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at e.l.f. Beauty

In other news, insider Mandy J. Fields sold 55,692 shares of e.l.f. Beauty stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $136.28, for a total transaction of $7,589,705.76. Following the transaction, the insider directly owned 64,154 shares of the company's stock, valued at $8,742,907.12. The trade was a 46.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joshua Allen Franks sold 7,913 shares of e.l.f. Beauty stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total value of $1,147,385.00. Following the transaction, the senior vice president directly owned 99,369 shares in the company, valued at approximately $14,408,505. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,060 shares of company stock valued at $40,994,733 in the last ninety days. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

ELF has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded e.l.f. Beauty from a "buy" rating to a "hold" rating and increased their target price for the company from $121.00 to $128.00 in a research note on Tuesday, September 2nd. Canaccord Genuity Group set a $165.00 price objective on e.l.f. Beauty in a research report on Tuesday, September 9th. Piper Sandler began coverage on e.l.f. Beauty in a research report on Thursday, September 4th. They set an "overweight" rating and a $150.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of e.l.f. Beauty from $137.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, Morgan Stanley raised their price target on shares of e.l.f. Beauty from $134.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $142.07.

e.l.f. Beauty Trading Up 2.6%

Shares of e.l.f. Beauty stock opened at $133.03 on Tuesday. The company's fifty day simple moving average is $128.71 and its 200-day simple moving average is $105.69. The stock has a market capitalization of $7.89 billion, a PE ratio of 78.26, a P/E/G ratio of 3.01 and a beta of 1.57. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $353.74 million for the quarter, compared to analysts' expectations of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The company's revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 EPS. As a group, equities analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

e.l.f. Beauty Company Profile

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.

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