Allspring Global Investments Holdings LLC lowered its position in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,317 shares of the company's stock after selling 46,210 shares during the period. Allspring Global Investments Holdings LLC owned about 0.52% of e.l.f. Beauty worth $41,038,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its holdings in shares of e.l.f. Beauty by 7.6% in the first quarter. Advisor Group Holdings Inc. now owns 6,765 shares of the company's stock valued at $174,000 after purchasing an additional 476 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of e.l.f. Beauty by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 428,775 shares of the company's stock valued at $11,076,000 after buying an additional 4,476 shares in the last quarter. Citigroup Inc. raised its position in e.l.f. Beauty by 12.4% during the first quarter. Citigroup Inc. now owns 41,711 shares of the company's stock worth $1,077,000 after acquiring an additional 4,617 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in e.l.f. Beauty in the first quarter valued at $342,000. Finally, MetLife Investment Management LLC grew its position in shares of e.l.f. Beauty by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 26,424 shares of the company's stock valued at $683,000 after acquiring an additional 9,189 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.
Wall Street Analyst Weigh In
ELF has been the topic of several research analyst reports. Bank of America increased their price target on shares of e.l.f. Beauty from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Piper Sandler upped their target price on e.l.f. Beauty from $225.00 to $228.00 and gave the stock an "overweight" rating in a research note on Tuesday. TD Cowen boosted their price target on e.l.f. Beauty from $185.00 to $220.00 and gave the stock a "market perform" rating in a report on Wednesday, March 13th. DA Davidson reaffirmed a "buy" rating and set a $220.00 price target on shares of e.l.f. Beauty in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of e.l.f. Beauty from $130.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $186.83.
Check Out Our Latest Analysis on e.l.f. Beauty
Insider Activity
In other news, CEO Tarang Amin sold 23,519 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares of the company's stock, valued at $2,165,713.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is owned by company insiders.
e.l.f. Beauty Stock Down 2.6 %
NYSE:ELF traded down $4.31 during trading hours on Friday, hitting $162.91. 1,229,111 shares of the company traded hands, compared to its average volume of 1,548,370. e.l.f. Beauty, Inc. has a one year low of $83.80 and a one year high of $221.83. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. The company has a market cap of $9.04 billion, a PE ratio of 72.00, a PEG ratio of 1.55 and a beta of 1.57. The firm's 50-day simple moving average is $187.09 and its 200-day simple moving average is $146.64.
e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. The company had revenue of $270.94 million during the quarter, compared to analyst estimates of $239.66 million. Equities analysts predict that e.l.f. Beauty, Inc. will post 2.5 earnings per share for the current year.
e.l.f. Beauty Company Profile
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Free Report)
e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.
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