e.l.f. Beauty (NYSE:ELF) Shares Down 1% After Insider Selling

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price traded down 1% during mid-day trading on Monday following insider selling activity. The stock traded as low as $108.77 and last traded at $111.80. 669,843 shares changed hands during trading, a decline of 62% from the average session volume of 1,749,723 shares. The stock had previously closed at $112.91.

Specifically, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 directly owns 106,016 shares in the company, valued at $14,465,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research analysts have issued reports on ELF shares. Canaccord Genuity Group upped their price target on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Baird R W upgraded e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. DA Davidson reiterated a “buy” rating and issued a $223.00 price target on shares of e.l.f. Beauty in a report on Wednesday, September 18th. Piper Sandler cut their price objective on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, UBS Group cut their price target on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.80.

e.l.f. Beauty Price Performance

The company has a fifty day moving average price of $153.71 and a two-hundred day moving average price of $174.16. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 50.72, a P/E/G ratio of 2.37 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $303.60 million. On average, equities research analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of e.l.f. Beauty by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company’s stock valued at $873,351,000 after buying an additional 79,701 shares in the last quarter. Baillie Gifford & Co. bought a new stake in e.l.f. Beauty in the second quarter worth approximately $801,693,000. Wellington Management Group LLP increased its stake in shares of e.l.f. Beauty by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after purchasing an additional 126,231 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of e.l.f. Beauty by 12.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after purchasing an additional 168,267 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after purchasing an additional 576,383 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.