Envestnet Asset Management Inc. Boosts Stock Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Envestnet Asset Management Inc. lifted its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 61.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,702 shares of the company’s stock after purchasing an additional 57,039 shares during the period. Envestnet Asset Management Inc. owned 0.27% of e.l.f. Beauty worth $31,545,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ELF. Ashton Thomas Private Wealth LLC purchased a new stake in shares of e.l.f. Beauty during the second quarter worth about $26,000. Matrix Trust Co purchased a new stake in shares of e.l.f. Beauty during the second quarter worth about $27,000. Innealta Capital LLC purchased a new stake in shares of e.l.f. Beauty during the second quarter worth about $30,000. Harbor Investment Advisory LLC purchased a new stake in shares of e.l.f. Beauty during the first quarter worth about $31,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of e.l.f. Beauty by 405.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after purchasing an additional 138 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Tarang Amin sold 15,386 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the sale, the chief executive officer now owns 171,329 shares in the company, valued at $34,411,429.65. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Tarang Amin sold 15,386 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the sale, the chief executive officer now owns 171,329 shares in the company, valued at $34,411,429.65. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joshua Allen Franks sold 3,370 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the sale, the senior vice president now owns 71,986 shares in the company, valued at approximately $14,489,342.08. The disclosure for this sale can be found here. Insiders have sold a total of 19,304 shares of company stock worth $3,864,492 over the last 90 days. 5.20% of the stock is currently owned by insiders.

e.l.f. Beauty Price Performance

Shares of NYSE ELF opened at $112.89 on Friday. e.l.f. Beauty, Inc. has a fifty-two week low of $88.47 and a fifty-two week high of $221.83. The company has a 50 day simple moving average of $153.71 and a two-hundred day simple moving average of $174.58. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 2.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The business had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. Analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELF. DA Davidson reiterated a “buy” rating and set a $223.00 target price on shares of e.l.f. Beauty in a report on Wednesday. B. Riley started coverage on shares of e.l.f. Beauty in a research note on Tuesday, September 10th. They issued a “buy” rating and a $175.00 price target for the company. Baird R W raised shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. TD Cowen decreased their price target on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, UBS Group decreased their price target on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.80.

About e.l.f. Beauty

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.