e.l.f. Beauty, Inc. (NYSE:ELF) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 29.6% during the third quarter, HoldingsChannel.com reports. The fund owned 9,392 shares of the company’s stock after buying an additional 2,146 shares during the period. PNC Financial Services Group Inc.’s holdings in e.l.f. Beauty were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new position in e.l.f. Beauty during the 2nd quarter worth $801,693,000. Swedbank AB acquired a new stake in shares of e.l.f. Beauty during the third quarter worth about $76,321,000. Clearbridge Investments LLC grew its holdings in shares of e.l.f. Beauty by 84.4% during the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after buying an additional 576,383 shares during the last quarter. Thrivent Financial for Lutherans increased its position in e.l.f. Beauty by 223.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after acquiring an additional 383,478 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in e.l.f. Beauty by 55.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock valued at $79,633,000 after acquiring an additional 261,707 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Trading Up 2.3 %

NYSE ELF opened at $127.20 on Thursday. The company has a 50-day moving average of $113.07 and a 200-day moving average of $151.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83. The company has a market cap of $7.17 billion, a P/E ratio of 68.76, a P/E/G ratio of 2.85 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly 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. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts predict that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Analysts Set New Price Targets

ELF has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Robert W. Baird dropped their price objective on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Bank of America cut their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Morgan Stanley reduced their price objective on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.53.

Insider Activity

In other news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.50% of the company’s stock.

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.