Robbins Farley Boosts Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Robbins Farley raised its holdings in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 3.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 35,646 shares of the company’s stock after purchasing an additional 1,250 shares during the period. Robbins Farley owned 0.06% of e.l.f. Beauty worth $2,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Tran Capital Management L.P. increased its position in e.l.f. Beauty by 430.7% during the 1st quarter. Tran Capital Management L.P. now owns 181,494 shares of the company’s stock valued at $11,396,000 after purchasing an additional 147,297 shares during the period. Fifth Third Bancorp increased its position in e.l.f. Beauty by 1.0% during the 1st quarter. Fifth Third Bancorp now owns 21,751 shares of the company’s stock valued at $1,366,000 after purchasing an additional 216 shares during the period. GAMMA Investing LLC increased its position in e.l.f. Beauty by 132.2% during the 1st quarter. GAMMA Investing LLC now owns 1,999 shares of the company’s stock valued at $126,000 after purchasing an additional 1,138 shares during the period. Harbor Capital Advisors Inc. increased its position in e.l.f. Beauty by 42.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company’s stock valued at $6,482,000 after purchasing an additional 30,530 shares during the period. Finally, Portside Wealth Group LLC increased its position in e.l.f. Beauty by 68.4% during the 1st quarter. Portside Wealth Group LLC now owns 6,582 shares of the company’s stock valued at $413,000 after purchasing an additional 2,674 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $125.01 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90. The company has a fifty day moving average of $78.97 and a two-hundred day moving average of $91.58. The stock has a market capitalization of $7.04 billion, a PE ratio of 73.97, a P/E/G ratio of 6.76 and a beta of 1.52. e.l.f. Beauty, Inc. has a fifty-two week low of $49.40 and a fifty-two week high of $219.77.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $332.65 million during the quarter, compared to analysts’ expectations of $327.45 million. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, research analysts forecast that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kory Marchisotto sold 51,350 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,036.00. Following the completion of the sale, the insider now directly owns 152,492 shares in the company, valued at $8,136,973.12. This represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Catherine Hartnett sold 9,506 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $116.52, for a total transaction of $1,107,639.12. Following the completion of the sale, the insider now owns 53,903 shares of the company’s stock, valued at $6,280,777.56. This trade represents a 14.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,207 shares of company stock worth $25,252,926 over the last three months. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. B. Riley raised their target price on shares of e.l.f. Beauty from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird raised their target price on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, June 6th. Raymond James lifted their price objective on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 price objective (up previously from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Finally, Morgan Stanley lifted their price objective on shares of e.l.f. Beauty from $70.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.24.

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.