Allspring Global Investments Holdings LLC Increases Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Allspring Global Investments Holdings LLC raised its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 81.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 468,670 shares of the company’s stock after buying an additional 210,873 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.83% of e.l.f. Beauty worth $98,758,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in e.l.f. Beauty by 1.3% during the fourth 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 during the last quarter. Baillie Gifford & Co. purchased a new position in shares of e.l.f. Beauty in the second quarter worth $801,693,000. Wellington Management Group LLP raised its stake in shares of e.l.f. Beauty by 5.2% in the fourth 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. Dimensional Fund Advisors LP raised its stake in shares of e.l.f. Beauty by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 952,863 shares of the company’s stock worth $137,538,000 after purchasing an additional 7,999 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of e.l.f. Beauty in the first quarter worth $133,940,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $154.60 on Tuesday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 70.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.46. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $183.77 and a 200-day moving average price of $182.18. e.l.f. Beauty, Inc. has a twelve month low of $88.47 and a twelve month high of $221.83.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ELF. Piper Sandler restated an “overweight” rating and issued a $260.00 price target on shares of e.l.f. Beauty in a research note on Monday. UBS Group decreased their price target on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 9th. TD Cowen boosted their price target on e.l.f. Beauty from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Stifel Nicolaus boosted their price target on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Finally, Canaccord Genuity Group upped their price objective on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $216.43.

Insider Transactions at e.l.f. Beauty

In other news, SVP Joshua Allen Franks sold 14,253 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $2,636,234.88. Following the completion of the transaction, the senior vice president now owns 83,182 shares of the company’s stock, valued at $15,385,342.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Joshua Allen Franks sold 14,253 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $2,636,234.88. Following the sale, the senior vice president now directly owns 83,182 shares in the company, valued at $15,385,342.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tarang Amin sold 42,953 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $7,944,586.88. Following the completion of the sale, the chief executive officer now owns 258,667 shares in the company, valued at $47,843,048.32. The disclosure for this sale can be found here. Insiders sold a total of 97,390 shares of company stock valued at $18,264,873 over the last 90 days. Company insiders own 5.20% 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.