Prime Capital Management Co Ltd Invests $28.34 Million in e.l.f. Beauty, Inc. (NYSE:ELF)

Prime Capital Management Co Ltd acquired a new position in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 225,709 shares of the company's stock, valued at approximately $28,338,000. e.l.f. Beauty accounts for 4.2% of Prime Capital Management Co Ltd's investment portfolio, making the stock its 5th largest position. Prime Capital Management Co Ltd owned about 0.40% of e.l.f. Beauty at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in e.l.f. Beauty by 51.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company's stock worth $1,005,584,000 after purchasing an additional 2,703,742 shares during the period. Vanguard Group Inc. boosted its stake in e.l.f. Beauty by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock worth $690,174,000 after purchasing an additional 68,103 shares during the period. William Blair Investment Management LLC boosted its stake 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 purchasing an additional 669,321 shares during the period. Champlain Investment Partners LLC boosted its stake in shares of e.l.f. Beauty by 99.7% during the 4th quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company's stock valued at $279,531,000 after buying an additional 1,111,550 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of e.l.f. Beauty by 17.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company's stock valued at $222,541,000 after buying an additional 264,296 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Insider Buying and Selling

In related news, insider Kory Marchisotto sold 51,350 shares of e.l.f. Beauty stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,036.00. Following the transaction, the insider now owns 152,492 shares in the company, valued at $8,136,973.12. This trade represents a 25.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joshua Allen Franks sold 51,353 shares of e.l.f. Beauty stock in a transaction 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 completion of the transaction, the senior vice president now owns 114,660 shares in the company, valued at $6,118,257.60. This trade represents a 30.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,618 shares of company stock worth $10,974,536 in the last quarter. 3.50% of the stock is currently owned by company insiders.

e.l.f. Beauty Stock Up 1.4%

Shares of e.l.f. Beauty stock traded up $1.06 during midday trading on Friday, reaching $79.24. 1,740,390 shares of the company's stock traded hands, compared to its average volume of 2,414,018. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 46.89, a price-to-earnings-growth ratio of 6.76 and a beta of 1.31. e.l.f. Beauty, Inc. has a 52 week low of $49.40 and a 52 week high of $219.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90. The company's 50 day simple moving average is $62.23 and its 200 day simple moving average is $93.39.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ELF. UBS Group decreased their target price on shares of e.l.f. Beauty from $74.00 to $59.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Piper Sandler decreased their target price on shares of e.l.f. Beauty from $90.00 to $81.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Raymond James decreased their target price on shares of e.l.f. Beauty from $120.00 to $85.00 and set a "strong-buy" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price 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. Finally, The Goldman Sachs Group decreased their target price on shares of e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $112.47.

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.