Insider Selling: e.l.f. Beauty (NYSE:ELF) CEO Sells 116,315 Shares of Stock

Key Points

• Tarang Amin, CEO of e.l.f. Beauty, sold 116,315 shares at an average price of $132.24, amounting to over $15 million, reducing his ownership by 58.71%.
• e.l.f. Beauty reported a quarterly revenue of $353.74 million, exceeding analyst expectations, with earnings per share of $0.89, up from $1.10 the previous year.
• Institutional investors own approximately 92.44% of e.l.f. Beauty's stock, with significant acquisitions made by hedge funds in the second quarter valued at over $118 million.

e.l.f. Beauty (NYSE:ELF - Get Free Report) CEO Tarang Amin sold 116,315 shares of e.l.f. Beauty stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $132.24, for a total transaction of $15,381,495.60. Following the completion of the transaction, the chief executive officer owned 81,818 shares in the company, valued at approximately $10,819,612.32. This trade represents a 58.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

e.l.f. Beauty Stock Performance

NYSE:ELF traded down $1.03 during midday trading on Friday, reaching $134.88. The stock had a trading volume of 1,054,341 shares, compared to its average volume of 2,534,186. The firm has a fifty day simple moving average of $126.18 and a two-hundred day simple moving average of $101.55. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $150.99. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The stock has a market cap of $8.00 billion, a P/E ratio of 79.34, a P/E/G ratio of 3.13 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The firm had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the firm posted $1.10 EPS. e.l.f. Beauty's quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in e.l.f. Beauty in the 2nd quarter valued at about $118,058,000. Atreides Management LP acquired a new position in e.l.f. Beauty in the 2nd quarter valued at about $61,479,000. Champlain Investment Partners LLC raised its stake in e.l.f. Beauty by 19.7% in the 1st quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock valued at $167,337,000 after purchasing an additional 438,575 shares during the last quarter. Man Group plc acquired a new position in e.l.f. Beauty in the 2nd quarter valued at about $52,316,000. Finally, Prime Capital Management Co Ltd raised its stake in e.l.f. Beauty by 167.8% in the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock valued at $37,959,000 after purchasing an additional 378,826 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ELF shares. Truist Financial lifted their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Weiss Ratings reissued a "hold (c)" rating on shares of e.l.f. Beauty in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft downgraded e.l.f. Beauty from a "buy" rating to a "hold" rating and raised their target price for the company from $121.00 to $128.00 in a report on Tuesday, September 2nd. The Goldman Sachs Group raised their target price on e.l.f. Beauty from $137.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Finally, Piper Sandler assumed coverage on e.l.f. Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $150.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, e.l.f. Beauty currently has an average rating of "Moderate Buy" and an average target price of $134.60.

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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