Ithaka Group LLC Trims Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Ithaka Group LLC trimmed its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,148 shares of the company’s stock after selling 1,293 shares during the period. e.l.f. Beauty accounts for approximately 1.0% of Ithaka Group LLC’s holdings, making the stock its 29th largest position. Ithaka Group LLC owned about 0.09% of e.l.f. Beauty worth $5,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in shares of e.l.f. Beauty by 39.5% in the 3rd quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock worth $578,480,000 after purchasing an additional 1,501,151 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of e.l.f. Beauty by 12.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock worth $318,647,000 after purchasing an additional 168,267 shares in the last quarter. Clearbridge Investments LLC increased its stake 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 worth $265,432,000 after buying an additional 576,383 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in e.l.f. Beauty by 55.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock valued at $79,633,000 after acquiring an additional 261,707 shares during the period. Finally, Swedbank AB bought a new stake in e.l.f. Beauty during the third quarter valued at about $76,321,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Trading Up 2.7 %

ELF opened at $122.25 on Friday. The firm has a market cap of $6.89 billion, a P/E ratio of 66.08, a P/E/G ratio of 2.67 and a beta of 1.44. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $112.04 and a 200 day moving average of $153.08.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on ELF. Canaccord Genuity Group decreased their price target on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Truist Financial decreased their price target on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. UBS Group decreased their price target on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus decreased their price target on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.53.

Insider Buying and Selling at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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. The trade was a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

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.