State of Alaska Department of Revenue Trims Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

State of Alaska Department of Revenue lowered its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 58.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,425 shares of the company’s stock after selling 9,035 shares during the period. State of Alaska Department of Revenue’s holdings in e.l.f. Beauty were worth $806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ELF. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of e.l.f. Beauty by 14.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,942 shares of the company’s stock worth $4,823,000 after buying an additional 4,823 shares during the last quarter. Robbins Farley boosted its position in e.l.f. Beauty by 27.1% in the 4th quarter. Robbins Farley now owns 34,396 shares of the company’s stock worth $4,318,000 after purchasing an additional 7,335 shares in the last quarter. abrdn plc boosted its position in e.l.f. Beauty by 92.9% in the 4th quarter. abrdn plc now owns 148,236 shares of the company’s stock worth $18,842,000 after purchasing an additional 71,373 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its stake in shares of e.l.f. Beauty by 6.7% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 6,717 shares of the company’s stock worth $843,000 after purchasing an additional 420 shares during the period. Finally, Financial Life Planners purchased a new position in shares of e.l.f. Beauty during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ELF shares. Deutsche Bank Aktiengesellschaft began coverage on shares of e.l.f. Beauty in a report on Thursday, December 12th. They set a “hold” rating and a $133.00 price target on the stock. Raymond James dropped their target price on e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler cut their price target on e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group lowered their price target on e.l.f. Beauty from $165.00 to $142.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, DA Davidson cut e.l.f. Beauty from a “buy” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $80.00 in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.00.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 890 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $122,464.00. Following the completion of the sale, the chief executive officer now directly owns 99,699 shares in the company, valued at approximately $13,718,582.40. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Milsten sold 530 shares of e.l.f. Beauty stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the transaction, the insider now directly owns 68,853 shares in the company, valued at $9,474,172.80. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,205 shares of company stock worth $297,442. 3.50% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $72.97 on Friday. The company has a market cap of $4.12 billion, a P/E ratio of 43.18, a P/E/G ratio of 1.54 and a beta of 1.47. e.l.f. Beauty, Inc. has a twelve month low of $63.50 and a twelve month high of $221.83. The company’s 50-day moving average price is $117.99 and its 200-day moving average price is $125.12. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 17.35%. On average, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

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.