Seven Eight Capital LP Buys 4,261 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Seven Eight Capital LP lifted its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 57.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,624 shares of the company’s stock after purchasing an additional 4,261 shares during the quarter. Seven Eight Capital LP’s holdings in e.l.f. Beauty were worth $2,449,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $801,693,000. Clearbridge Investments LLC bought a new position in shares of e.l.f. Beauty during the 1st quarter valued at approximately $133,940,000. Norges Bank bought a new stake in e.l.f. Beauty in the fourth quarter worth $95,611,000. 1832 Asset Management L.P. purchased a new position in e.l.f. Beauty during the first quarter worth $61,299,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of e.l.f. Beauty by 81.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 468,670 shares of the company’s stock valued at $98,758,000 after acquiring an additional 210,873 shares during the period. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 0.7 %

Shares of NYSE:ELF opened at $112.40 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 2.37 and a beta of 1.45. The business has a 50-day moving average price of $159.25 and a 200 day moving average price of $176.11. e.l.f. Beauty, Inc. has a 12-month low of $88.47 and a 12-month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The firm had revenue of $324.48 million during the quarter, compared to analyst estimates of $303.60 million. Sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current year.

Insider Buying and Selling

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction on Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the sale, the chief executive officer now owns 214,507 shares in the company, valued at approximately $37,538,725. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now owns 71,986 shares of the company’s stock, valued at approximately $14,489,342.08. The disclosure for this sale can be found here. Insiders have sold 19,304 shares of company stock worth $3,864,492 in the last ninety days. 5.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ELF shares. Piper Sandler cut their price target on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, August 9th. TD Cowen dropped their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Bank of America lowered their price target on e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $235.00 target price on shares of e.l.f. Beauty in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.80.

About e.l.f. Beauty

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.