Insider Selling: e.l.f. Beauty (NYSE:ELF) Insider Sells 15,000 Shares of Stock

Key Points

• e.l.f. Beauty insider Scott Milsten sold 15,000 shares at an average price of $150.23, totaling $2.25 million, which decreased his ownership by 13.34%.
• The company's quarterly earnings reported earnings per share of $0.89, exceeding analysts' expectations, with a revenue increase of 9.0% year over year.
• Analyst ratings for e.l.f. Beauty include two Strong Buy and nine Buy ratings, with a current average target price of $133.40.

e.l.f. Beauty (NYSE:ELF - Get Free Report) insider Scott Milsten sold 15,000 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $150.23, for a total value of $2,253,450.00. Following the completion of the sale, the insider directly owned 97,406 shares in the company, valued at approximately $14,633,303.38. This represents a 13.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Scott Milsten also recently made the following trade(s):

• On Friday, September 12th, Scott Milsten sold 15,000 shares of e.l.f. Beauty stock. The shares were sold at an average price of $140.28, for a total value of $2,104,200.00.
• On Wednesday, September 10th, Scott Milsten sold 55,581 shares of e.l.f. Beauty stock. The shares were sold at an average price of $134.56, for a total value of $7,478,979.36.

e.l.f. Beauty Stock Down 1.8%

e.l.f. Beauty stock traded down $2.56 during midday trading on Monday, reaching $137.40. The stock had a trading volume of 1,572,334 shares, compared to its average volume of 1,748,969. The firm's fifty day simple moving average is $123.15 and its 200-day simple moving average is $98.41. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99. The stock has a market capitalization of $8.15 billion, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 3.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26.

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

Institutional Trading of e.l.f. Beauty

A number of institutional investors have recently modified their holdings of ELF. Marshall Wace LLP bought a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at $118,058,000. Atreides Management LP bought a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at $61,479,000. Champlain Investment Partners LLC lifted its position in shares of e.l.f. Beauty by 19.7% during the 1st quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock valued at $167,337,000 after acquiring an additional 438,575 shares during the period. Man Group plc bought a new stake in shares of e.l.f. Beauty during the 2nd quarter worth $52,316,000. Finally, Prime Capital Management Co Ltd lifted its position in shares of e.l.f. Beauty by 167.8% during the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock worth $37,959,000 after buying an additional 378,826 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ELF. B. Riley boosted their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. decreased their target price on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Piper Sandler began coverage on e.l.f. Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $150.00 target price on the stock. Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Truist Financial boosted their target price on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $133.40.

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.