e.l.f. Beauty, Inc. (NYSE:ELF) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 12.4% in the third quarter, Holdings Channel reports. The firm owned 5,937 shares of the company’s stock after selling 843 shares during the period. Pitcairn Co.’s holdings in e.l.f. Beauty were worth $647,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. purchased a new position in e.l.f. Beauty in the 2nd quarter valued at $801,693,000. Champlain Investment Partners LLC purchased a new position in shares of e.l.f. Beauty in the third quarter worth about $121,558,000. Swedbank AB acquired a new position in e.l.f. Beauty during the third quarter worth about $76,321,000. Clearbridge Investments LLC grew its stake in e.l.f. Beauty by 84.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after acquiring an additional 576,383 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings 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 last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America dropped their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. reduced their price target on 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. Truist Financial dropped their price objective on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, TD Cowen reduced their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.53.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty 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 approximately $14,465,883.20. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

e.l.f. Beauty Stock Up 2.8 %

NYSE:ELF opened at $129.98 on Tuesday. e.l.f. Beauty, Inc. has a 52 week low of $98.50 and a 52 week high of $221.83. The stock’s fifty day moving average is $112.58 and its two-hundred day moving average is $152.39. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 70.26, a price-to-earnings-growth ratio of 2.77 and a beta of 1.44. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22.

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

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.