Clearbridge Investments LLC Grows Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Clearbridge Investments LLC grew its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 17.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,772,528 shares of the company’s stock after acquiring an additional 264,296 shares during the period. Clearbridge Investments LLC’s holdings in e.l.f. Beauty were worth $222,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ELF. Baillie Gifford & Co. boosted its holdings in e.l.f. Beauty by 51.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock worth $1,005,584,000 after buying an additional 2,703,742 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of e.l.f. Beauty by 40.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock worth $289,437,000 after acquiring an additional 669,321 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of e.l.f. Beauty in the 4th quarter worth approximately $68,775,000. Principal Financial Group Inc. increased its stake in e.l.f. Beauty by 149.8% in the 4th quarter. Principal Financial Group Inc. now owns 328,557 shares of the company’s stock valued at $41,250,000 after purchasing an additional 197,028 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in e.l.f. Beauty by 107.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 287,710 shares of the company’s stock worth $36,122,000 after purchasing an additional 148,916 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $64.87 on Monday. The company has a market cap of $3.66 billion, a P/E ratio of 38.38, a P/E/G ratio of 6.76 and a beta of 1.60. The business has a fifty day simple moving average of $79.12 and a 200-day simple moving average of $105.76. e.l.f. Beauty, Inc. has a 52 week low of $60.35 and a 52 week high of $219.77. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. Equities research analysts forecast that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELF. DA Davidson dropped their price target on e.l.f. Beauty from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. B. Riley restated a “buy” rating and set a $90.00 target price (down from $150.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Truist Financial lifted their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler lowered their price target on shares of e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, UBS Group restated a “neutral” rating and set a $74.00 price objective (down from $158.00) on shares of e.l.f. Beauty in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.65.

Insider Buying and Selling

In other e.l.f. Beauty news, Director Maureen C. Watson sold 4,000 shares of e.l.f. Beauty stock in a transaction on Friday, March 7th. The shares were sold at an average price of $67.39, for a total value of $269,560.00. Following the transaction, the director now owns 1,888 shares in the company, valued at $127,232.32. This trade represents a 67.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is currently owned by company insiders.

e.l.f. Beauty 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.