e.l.f. Beauty, Inc. (NYSE:ELF) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 1,380.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,284 shares of the company’s stock after buying an additional 15,184 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in e.l.f. Beauty were worth $1,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. increased its position in shares of e.l.f. Beauty by 39.5% in the 3rd quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock valued at $578,480,000 after acquiring an additional 1,501,151 shares during the period. William Blair Investment Management LLC increased its holdings in shares of e.l.f. Beauty by 12.5% in the second 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 during the period. Clearbridge Investments LLC lifted 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 purchasing an additional 576,383 shares during the period. Allspring Global Investments Holdings LLC boosted its position in e.l.f. Beauty by 55.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock valued at $79,633,000 after buying an additional 261,707 shares during the last quarter. Finally, Swedbank AB purchased a new stake in e.l.f. Beauty in the third quarter valued at approximately $76,321,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $121.53 on Wednesday. The stock has a market capitalization of $6.85 billion, a P/E ratio of 66.41, a P/E/G ratio of 2.66 and a beta of 1.44. The company’s fifty day moving average price is $111.57 and its 200 day moving average price is $153.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. e.l.f. Beauty, Inc. has a 1 year low of $98.50 and a 1 year high of $221.83.

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 the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. 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 business earned $0.66 earnings per share. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, equities research analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Stifel Nicolaus decreased their target price on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Bank of America lowered their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley decreased 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, Truist Financial dropped their target price on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.53.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction 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 of the company’s stock, valued at $14,465,883.20. The trade was a 18.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by company insiders.

e.l.f. Beauty 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.