Swedbank AB Purchases New Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Swedbank AB acquired a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 700,000 shares of the company’s stock, valued at approximately $76,321,000. Swedbank AB owned 1.24% of e.l.f. Beauty as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ELF. Canada Pension Plan Investment Board acquired a new stake in e.l.f. Beauty in the second quarter valued at $6,659,000. Sumitomo Mitsui Trust Group Inc. raised its stake in e.l.f. Beauty by 1,380.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock valued at $1,775,000 after acquiring an additional 15,184 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of e.l.f. Beauty by 33.8% during the second quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after purchasing an additional 9,939 shares in the last quarter. Clearbridge Investments LLC grew its position in e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after buying an additional 576,383 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in e.l.f. Beauty by 14.2% during the 3rd quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock valued at $54,905,000 after buying an additional 62,480 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $126.42 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. e.l.f. Beauty, Inc. has a one year low of $98.50 and a one year high of $221.83. The company’s fifty day moving average price is $112.24 and its 200 day moving average price is $152.67. The company has a market capitalization of $7.12 billion, a PE ratio of 68.34, a price-to-earnings-growth ratio of 2.68 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.34. The business had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The firm’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELF. Morgan Stanley decreased their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. DA Davidson cut their target price on shares of e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Truist Financial reduced their price target on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price objective on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, UBS Group dropped their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and an average target price of $173.53.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Company 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.