State of New Jersey Common Pension Fund D Sells 11,180 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

State of New Jersey Common Pension Fund D reduced its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 35.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,569 shares of the company’s stock after selling 11,180 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in e.l.f. Beauty were worth $4,334,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $26,000. Matrix Trust Co bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new position in e.l.f. Beauty in the first quarter valued at approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after acquiring an additional 138 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the sale, the senior vice president now directly owns 71,986 shares of the company’s stock, valued at approximately $14,489,342.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tarang Amin sold 548 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the sale, the chief executive officer now directly owns 214,507 shares in the company, valued at $37,538,725. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,304 shares of company stock worth $3,864,492. 5.20% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $113.17 on Tuesday. The company has a market cap of $6.38 billion, a PE ratio of 50.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.44. 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 firm has a 50-day moving average of $161.14 and a 200-day moving average of $176.84. e.l.f. Beauty, Inc. has a one year low of $88.47 and a one year high of $221.83.

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

Analyst Ratings Changes

ELF has been the topic of a number of recent research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $235.00 price objective on shares of e.l.f. Beauty in a research note on Monday, July 22nd. UBS Group reduced their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler reduced their price objective on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial raised their price objective on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Bank of America reduced their price objective on shares of e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.