Granahan Investment Management LLC Makes New Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Granahan Investment Management LLC acquired a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 77,029 shares of the company's stock, valued at approximately $9,671,000. Granahan Investment Management LLC owned about 0.14% of e.l.f. Beauty as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Nemes Rush Group LLC bought a new stake in e.l.f. Beauty during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new stake in e.l.f. Beauty during the 3rd quarter valued at about $25,000. Promus Capital LLC bought a new stake in shares of e.l.f. Beauty in the 4th quarter valued at about $31,000. Kestra Investment Management LLC bought a new stake in shares of e.l.f. Beauty in the 4th quarter valued at about $32,000. Finally, Financial Life Planners bought a new stake in shares of e.l.f. Beauty in the 4th quarter valued at about $46,000. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James reduced their price target on shares of e.l.f. Beauty from $120.00 to $85.00 and set a "strong-buy" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of 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. DA Davidson reduced their price objective on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. B. Riley reissued a "buy" rating and set a $90.00 target price (down previously from $150.00) on shares of e.l.f. Beauty in a research report on Friday, February 7th. Finally, Canaccord Genuity Group dropped their target price 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 investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.88.

Insider Activity

In other e.l.f. Beauty news, insider Kory Marchisotto sold 51,350 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,036.00. Following the sale, the insider now directly owns 152,492 shares in the company, valued at approximately $8,136,973.12. The trade was a 25.19% 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, CEO Tarang Amin sold 97,915 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the sale, the chief executive officer now owns 181,289 shares of the company's stock, valued at approximately $9,673,581.04. The trade was a 35.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,618 shares of company stock valued at $10,974,536 in the last ninety days. 3.50% of the stock is currently owned by company insiders.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock traded up $2.37 during trading on Tuesday, reaching $76.44. The company's stock had a trading volume of 321,674 shares, compared to its average volume of 2,382,950. The company has a 50-day moving average price of $61.55 and a two-hundred day moving average price of $94.18. The firm has a market cap of $4.31 billion, a PE ratio of 45.27, a P/E/G ratio of 6.76 and a beta of 1.31. e.l.f. Beauty, Inc. has a fifty-two week low of $49.40 and a fifty-two week high of $219.77. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20.

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.