Sequoia Financial Advisors LLC Trims Stock Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Sequoia Financial Advisors LLC lowered its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 9.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,878 shares of the company’s stock after selling 283 shares during the period. Sequoia Financial Advisors LLC’s holdings in e.l.f. Beauty were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELF. Wellington Management Group LLP lifted its stake in e.l.f. Beauty by 235.8% in the third quarter. Wellington Management Group LLP now owns 2,414,601 shares of the company’s stock valued at $265,196,000 after buying an additional 1,695,585 shares during the last quarter. FMR LLC increased its holdings in shares of e.l.f. Beauty by 641.2% in the third quarter. FMR LLC now owns 832,404 shares of the company’s stock valued at $91,423,000 after purchasing an additional 720,098 shares during the period. Millennium Management LLC increased its holdings in shares of e.l.f. Beauty by 697.8% in the fourth quarter. Millennium Management LLC now owns 681,739 shares of the company’s stock valued at $37,700,000 after purchasing an additional 596,287 shares during the period. William Blair Investment Management LLC increased its holdings in shares of e.l.f. Beauty by 58.2% in the third quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company’s stock valued at $156,427,000 after purchasing an additional 523,903 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of e.l.f. Beauty by 8.9% in the third quarter. Vanguard Group Inc. now owns 6,147,304 shares of the company’s stock valued at $231,262,000 after purchasing an additional 504,690 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on e.l.f. Beauty from $225.00 to $228.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their target price on e.l.f. Beauty from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Raymond James boosted their target price on e.l.f. Beauty from $140.00 to $180.00 and gave the company a “strong-buy” rating in a report on Monday, January 22nd. Robert W. Baird assumed coverage on e.l.f. Beauty in a report on Tuesday, January 30th. They issued a “neutral” rating and a $185.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on e.l.f. Beauty from $141.00 to $167.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.33.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,519 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the sale, the chief executive officer now owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other e.l.f. Beauty news, CEO Tarang Amin sold 23,519 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total value of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares of the company’s stock, valued at approximately $2,165,713.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joshua Allen Franks sold 727 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $165.16, for a total value of $120,071.32. Following the completion of the sale, the senior vice president now directly owns 83,736 shares in the company, valued at $13,829,837.76. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

e.l.f. Beauty Trading Up 0.4 %

Shares of ELF stock opened at $166.26 on Thursday. e.l.f. Beauty, Inc. has a fifty-two week low of $83.80 and a fifty-two week high of $221.83. The stock has a market cap of $9.23 billion, a P/E ratio of 73.57, a P/E/G ratio of 1.52 and a beta of 1.57. The business has a fifty day simple moving average of $186.70 and a 200-day simple moving average of $148.43. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $270.94 million during the quarter, compared to analysts’ expectations of $239.66 million. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. On average, analysts forecast that e.l.f. Beauty, Inc. will post 2.5 earnings per share for the current fiscal 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.