Swedbank AB Acquires Shares of 700,000 e.l.f. Beauty, Inc. (NYSE:ELF)

Swedbank AB bought a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) in the third quarter, HoldingsChannel reports. The institutional investor bought 700,000 shares of the company’s stock, valued at approximately $76,321,000.

Several other large investors have also made changes to their positions in ELF. Picton Mahoney Asset Management raised its holdings in e.l.f. Beauty by 3.2% during the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after purchasing an additional 75 shares during the last quarter. Hanseatic Management Services Inc. grew its position in shares of e.l.f. Beauty by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after buying an additional 77 shares during the period. Portside Wealth Group LLC raised its stake in shares of e.l.f. Beauty by 3.2% during the second quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock worth $628,000 after buying an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its holdings in e.l.f. Beauty by 27.8% in the second quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after buying an additional 98 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in e.l.f. Beauty by 2.1% in the second quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock valued at $1,007,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares in the company, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is currently owned by insiders.

e.l.f. Beauty Price Performance

ELF stock opened at $126.42 on Monday. The stock has a market cap of $7.12 billion, a PE ratio of 68.34, a price-to-earnings-growth ratio of 2.68 and a beta of 1.44. The stock has a 50-day moving average price of $112.24 and a two-hundred day moving average price of $152.67. e.l.f. Beauty, Inc. has a 1 year low of $98.50 and a 1 year high of $221.83. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The business had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. During the same quarter last year, the firm earned $0.66 EPS. e.l.f. Beauty’s revenue for the quarter was up 39.7% compared to the same quarter last year. Equities analysts forecast that e.l.f. Beauty, Inc. will post 2.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELF. B. Riley dropped their target price on shares of e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Bank of America reduced their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, UBS Group lowered their target price on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

e.l.f. Beauty Company Profile

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.