First Trust Advisors LP Lowers Position in e.l.f. Beauty, Inc. (NYSE:ELF)

First Trust Advisors LP trimmed its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 97.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,404 shares of the company's stock after selling 124,912 shares during the quarter. First Trust Advisors LP's holdings in e.l.f. Beauty were worth $427,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in e.l.f. Beauty by 51.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company's stock valued at $1,005,584,000 after buying an additional 2,703,742 shares in the last quarter. Vanguard Group Inc. grew its holdings in e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock valued at $690,174,000 after purchasing an additional 68,103 shares during the period. William Blair Investment Management LLC increased its holdings in e.l.f. Beauty by 40.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company's stock worth $289,437,000 after acquiring an additional 669,321 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in e.l.f. Beauty by 99.7% during the fourth 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. Finally, Clearbridge Investments LLC grew its position in shares of e.l.f. Beauty by 17.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company's stock valued at $222,541,000 after purchasing an additional 264,296 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ELF shares. Truist Financial decreased their price target on shares of e.l.f. Beauty from $100.00 to $75.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on e.l.f. Beauty from $127.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Piper Sandler lowered their target price on shares of e.l.f. Beauty from $90.00 to $81.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of e.l.f. Beauty from $115.00 to $105.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. Finally, Canaccord Genuity Group lowered their price target on shares of e.l.f. Beauty from $174.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.88.

e.l.f. Beauty Stock Down 1.2 %

Shares of NYSE:ELF opened at $67.07 on Friday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 6.76 and a beta of 1.31. e.l.f. Beauty, Inc. has a 12-month low of $49.40 and a 12-month high of $219.77. The business has a 50-day moving average price of $61.35 and a 200 day moving average price of $94.60. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. Sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In other news, CEO Tarang Amin sold 97,915 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $5,224,744.40. Following the completion of the transaction, the chief executive officer now owns 181,289 shares of the company's stock, valued at approximately $9,673,581.04. This trade represents a 35.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joshua Allen Franks sold 51,353 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the sale, the senior vice president now directly owns 114,660 shares in the company, valued at approximately $6,118,257.60. The trade was a 30.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,618 shares of company stock valued at $10,974,536. Company insiders own 3.50% of the company's stock.

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.

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