Allspring Global Investments Holdings LLC Sells 26,520 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Allspring Global Investments Holdings LLC lessened its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,797 shares of the company’s stock after selling 26,520 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.46% of e.l.f. Beauty worth $50,536,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ELF. Armstrong Advisory Group Inc. lifted its position in shares of e.l.f. Beauty by 390.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock valued at $29,000 after buying an additional 160 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in e.l.f. Beauty during the first quarter worth about $31,000. GPS Wealth Strategies Group LLC increased its stake in shares of e.l.f. Beauty by 66.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 97 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of e.l.f. Beauty in the first quarter valued at approximately $40,000. Finally, GAMMA Investing LLC purchased a new stake in shares of e.l.f. Beauty during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

In other news, CEO Tarang Amin sold 6,832 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $162.63, for a total value of $1,111,088.16. Following the completion of the sale, the chief executive officer now owns 228,175 shares of the company’s stock, valued at approximately $37,108,100.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Richard G. Wolford sold 11,072 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $181.13, for a total transaction of $2,005,471.36. Following the completion of the transaction, the director now directly owns 12,741 shares of the company’s stock, valued at $2,307,777.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 6,832 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $162.63, for a total transaction of $1,111,088.16. Following the sale, the chief executive officer now owns 228,175 shares of the company’s stock, valued at $37,108,100.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 256,167 shares of company stock valued at $44,029,811. 5.20% of the stock is currently owned by insiders.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $204.23 on Wednesday. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 92.00, a PEG ratio of 5.34 and a beta of 1.46. The business has a 50 day moving average of $183.04 and a 200 day moving average of $175.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.60 and a quick ratio of 0.95. e.l.f. Beauty, Inc. has a 1-year low of $88.47 and a 1-year high of $221.83.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. e.l.f. Beauty had a net margin of 12.47% and a return on equity of 26.64%. The firm had revenue of $321.14 million during the quarter, compared to analyst estimates of $292.47 million. On average, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELF. TD Cowen boosted their target price on shares of e.l.f. Beauty from $190.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Raymond James restated a “strong-buy” rating and issued a $235.00 target price (up previously from $215.00) on shares of e.l.f. Beauty in a research note on Friday, June 14th. Stifel Nicolaus decreased their price target on e.l.f. Beauty from $167.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Canaccord Genuity Group raised their price objective on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Bank of America decreased their target price on shares of e.l.f. Beauty from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.93.

e.l.f. Beauty Profile

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.