Truist Financial Corp Buys 2,576 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Truist Financial Corp raised its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 60.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,824 shares of the company’s stock after purchasing an additional 2,576 shares during the period. Truist Financial Corp’s holdings in e.l.f. Beauty were worth $1,438,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new position in shares of e.l.f. Beauty in the second quarter worth about $6,659,000. Wellington Management Group LLP boosted its stake in shares of e.l.f. Beauty by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after acquiring an additional 126,231 shares during the period. Swiss National Bank boosted its stake in shares of e.l.f. Beauty by 0.5% in the first quarter. Swiss National Bank now owns 108,900 shares of the company’s stock worth $21,348,000 after acquiring an additional 500 shares during the period. Nia Impact Advisors LLC bought a new position in shares of e.l.f. Beauty in the second quarter worth about $1,794,000. Finally, Private Advisor Group LLC bought a new position in shares of e.l.f. Beauty in the first quarter worth about $417,000. Institutional investors own 92.44% of the company’s stock.

Insider Transactions at e.l.f. Beauty

In other news, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the sale, the senior vice president now directly owns 71,986 shares in the company, valued at approximately $14,489,342.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the sale, the senior vice president now directly owns 71,986 shares in the company, valued at approximately $14,489,342.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 548 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the completion of the transaction, the chief executive officer now directly owns 214,507 shares in the company, valued at approximately $37,538,725. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,446 shares of company stock worth $3,984,609. 5.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Baird R W raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Piper Sandler decreased their target price on e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Bank of America decreased their target price on e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. DA Davidson reiterated a “buy” rating and issued a $223.00 target price on shares of e.l.f. Beauty in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group boosted their target price on e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.71.

e.l.f. Beauty Trading Up 2.1 %

Shares of ELF stock opened at $109.72 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $133.52 and its two-hundred day simple moving average is $164.57. e.l.f. Beauty, Inc. has a 1 year low of $88.47 and a 1 year high of $221.83. The company has a market cap of $6.14 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.20. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The firm had revenue of $324.48 million for the quarter, compared to the consensus estimate of $303.60 million. Research analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current year.

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.