WASHINGTON TRUST Co Decreases Holdings in e.l.f. Beauty $ELF

Key Points

• WASHINGTON TRUST Co cut its e.l.f. Beauty stake by 26.7% in the fourth quarter, selling 36,014 shares and leaving it with 98,826 shares valued at about $7.5 million.
• e.l.f. Beauty reported quarterly earnings of $0.32 per share, beating estimates, while revenue rose 35.1% year over year to $449.29 million.
• Despite the earnings beat, the stock was down 2.4% and recent analyst sentiment remained mixed, with an average Moderate Buy rating and a $82.75 price target.

WASHINGTON TRUST Co reduced its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 26.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,826 shares of the company's stock after selling 36,014 shares during the period. WASHINGTON TRUST Co owned 0.17% of e.l.f. Beauty worth $7,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $38,895,000. BRC Group Holdings Inc. acquired a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $274,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $495,000. Future Fund LLC raised its position in shares of e.l.f. Beauty by 46.6% during the 4th quarter. Future Fund LLC now owns 14,974 shares of the company's stock worth $1,139,000 after purchasing an additional 4,760 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of e.l.f. Beauty by 279.4% during the 4th quarter. Intech Investment Management LLC now owns 14,988 shares of the company's stock worth $1,140,000 after purchasing an additional 11,038 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Trading Down 2.4%

ELF stock opened at $56.02 on Friday. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 121.79, a PEG ratio of 2.33 and a beta of 1.71. The company has a quick ratio of 1.69, a current ratio of 2.35 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $61.81 and a 200-day simple moving average of $74.19. e.l.f. Beauty has a 52 week low of $49.72 and a 52 week high of $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $449.29 million during the quarter, compared to the consensus estimate of $423.06 million. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.The business's revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, equities research analysts expect that e.l.f. Beauty will post 2.45 EPS for the current year.

Insider Activity

In related news, insider Scott Milsten sold 23,797 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,514,917.02. Following the completion of the sale, the insider directly owned 114,940 shares of the company's stock, valued at approximately $7,317,080.40. This represents a 17.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Catherine Hartnett sold 20,829 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $63.66, for a total transaction of $1,325,974.14. Following the sale, the insider directly owned 68,726 shares of the company's stock, valued at approximately $4,375,097.16. This trade represents a 23.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 210,013 shares of company stock worth $13,315,490 in the last quarter. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ELF shares. TD Cowen cut their price objective on e.l.f. Beauty from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, February 9th. Evercore initiated coverage on e.l.f. Beauty in a report on Thursday, April 2nd. They issued an "inline" rating and a $68.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $65.00 price target on e.l.f. Beauty in a report on Thursday, May 14th. Canaccord Genuity Group cut their price target on e.l.f. Beauty from $100.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Finally, 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 report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $82.75.

e.l.f. Beauty Company 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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