Swedbank AB Lowers Holdings in e.l.f. Beauty $ELF

Swedbank AB decreased its stake in e.l.f. Beauty (NYSE:ELF) by 40.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 693,140 shares of the company’s stock after selling 464,620 shares during the quarter. Swedbank AB owned approximately 1.23% of e.l.f. Beauty worth $86,254,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ELF. Orion Capital Management LLC purchased a new position in e.l.f. Beauty during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC purchased a new position in e.l.f. Beauty during the first quarter worth approximately $33,000. Parallel Advisors LLC boosted its position in e.l.f. Beauty by 167.9% during the second quarter. Parallel Advisors LLC now owns 627 shares of the company’s stock worth $78,000 after purchasing an additional 393 shares in the last quarter. Larson Financial Group LLC boosted its position in e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company’s stock worth $42,000 after purchasing an additional 244 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company’s stock worth $49,000 after purchasing an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 7,913 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the completion of the sale, the senior vice president owned 99,369 shares of the company’s stock, valued at $14,408,505. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Milsten sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total value of $2,253,450.00. Following the sale, the insider directly owned 97,406 shares of the company’s stock, valued at approximately $14,633,303.38. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,933 shares of company stock valued at $23,991,438 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ELF has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on e.l.f. Beauty from $120.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. B. Riley raised their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial restated a “strong-buy” rating and issued a $155.00 target price (up previously from $140.00) on shares of e.l.f. Beauty in a research report on Monday, September 8th. Canaccord Genuity Group set a $165.00 target price on e.l.f. Beauty in a research report on Tuesday, September 9th. Finally, Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a “buy” rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.40.

e.l.f. Beauty Price Performance

NYSE:ELF opened at $146.86 on Friday. e.l.f. Beauty has a one year low of $49.40 and a one year high of $150.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The stock has a market cap of $8.71 billion, a PE ratio of 86.39, a P/E/G ratio of 3.55 and a beta of 1.59. The stock has a 50 day moving average price of $121.92 and a 200 day moving average price of $96.96.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The firm had revenue of $353.74 million during the quarter, compared to analysts’ expectations of $348.99 million. During the same quarter last year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts expect that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

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.