Ithaka Group LLC Has $2.92 Million Position in e.l.f. Beauty (NYSE:ELF)

Ithaka Group LLC decreased its position in e.l.f. Beauty (NYSE:ELF) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 46,519 shares of the company’s stock after selling 1,403 shares during the period. Ithaka Group LLC’s holdings in e.l.f. Beauty were worth $2,921,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. American Assets Inc. bought a new stake in e.l.f. Beauty during the 1st quarter worth about $791,000. New Age Alpha Advisors LLC boosted its position in e.l.f. Beauty by 7.1% during the first quarter. New Age Alpha Advisors LLC now owns 11,429 shares of the company’s stock valued at $718,000 after purchasing an additional 761 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in e.l.f. Beauty by 80.0% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 1,350 shares of the company’s stock valued at $85,000 after purchasing an additional 600 shares in the last quarter. US Bancorp DE increased its position in shares of e.l.f. Beauty by 88.6% during the 1st quarter. US Bancorp DE now owns 3,095 shares of the company’s stock worth $194,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Tredje AP fonden raised its stake in shares of e.l.f. Beauty by 100.0% during the 1st quarter. Tredje AP fonden now owns 90,000 shares of the company’s stock worth $5,651,000 after purchasing an additional 45,000 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $116.34 on Tuesday. The firm has a market cap of $6.60 billion, a P/E ratio of 60.28, a price-to-earnings-growth ratio of 2.77 and a beta of 1.57. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $118.34 and its 200-day moving average is $88.35. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $190.38.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The business had revenue of $332.65 million during the quarter, compared to analyst estimates of $327.45 million. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELF. Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the company a “buy” rating in a research report on Thursday, May 29th. UBS Group boosted their price target on e.l.f. Beauty from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Truist Financial raised their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Piper Sandler reissued an “overweight” rating and set a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a report on Thursday, May 29th. Finally, Canaccord Genuity Group increased their price target on e.l.f. Beauty from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.94.

Insider Transactions at e.l.f. Beauty

In other news, insider Scott Milsten sold 11,860 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $1,370,541.60. Following the completion of the sale, the insider directly owned 118,836 shares in the company, valued at approximately $13,732,688.16. The trade was a 9.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joshua Allen Franks sold 11,860 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the transaction, the senior vice president directly owned 121,967 shares in the company, valued at approximately $14,094,506.52. This represents a 8.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,589 shares of company stock worth $14,547,949. Company insiders own 3.90% of the company’s stock.

e.l.f. Beauty Company Profile

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.