Platinum Investment Management Ltd. Purchases Shares of 37,300 e.l.f. Beauty, Inc. (NYSE:ELF)

Platinum Investment Management Ltd. purchased a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,300 shares of the company’s stock, valued at approximately $4,683,000. Platinum Investment Management Ltd. owned 0.07% of e.l.f. Beauty at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn FI LLC purchased a new stake in shares of e.l.f. Beauty in the fourth quarter worth about $6,655,000. Trillium Asset Management LLC purchased a new stake in shares of e.l.f. Beauty in the fourth quarter worth about $3,345,000. Xponance Inc. boosted its position in shares of e.l.f. Beauty by 5.8% in the fourth quarter. Xponance Inc. now owns 11,280 shares of the company’s stock worth $1,416,000 after buying an additional 615 shares during the period. Horizon Investments LLC boosted its position in shares of e.l.f. Beauty by 29.0% in the fourth quarter. Horizon Investments LLC now owns 742 shares of the company’s stock worth $93,000 after buying an additional 167 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of e.l.f. Beauty by 40.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock worth $289,437,000 after buying an additional 669,321 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $63.64 on Wednesday. e.l.f. Beauty, Inc. has a 12-month low of $61.90 and a 12-month high of $219.77. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 37.65, a price-to-earnings-growth ratio of 6.76 and a beta of 1.60. The business has a 50 day simple moving average of $89.54 and a 200 day simple moving average of $109.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. On average, equities research analysts anticipate that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their target price on e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. B. Riley reiterated a “buy” rating and issued a $90.00 price target (down previously from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. The Goldman Sachs Group cut their price target on e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Stifel Nicolaus cut their price target on e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.65.

Insider Buying and Selling

In other e.l.f. Beauty news, Director Maureen C. Watson sold 4,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $67.39, for a total transaction of $269,560.00. Following the completion of the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. This trade represents a 67.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

About e.l.f. Beauty

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.