e.l.f. Beauty (NYSE:ELF) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its position in shares of e.l.f. Beauty (NYSE:ELF) by 21.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,155 shares of the company’s stock after selling 1,134 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in e.l.f. Beauty were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new stake in e.l.f. Beauty during the fourth quarter worth about $27,000. Orion Capital Management LLC purchased a new stake in shares of e.l.f. Beauty in the fourth quarter worth about $30,000. Horizon Investments LLC boosted its position in shares of e.l.f. Beauty by 29.0% in the fourth quarter. Horizon Investments LLC now owns 742 shares of the company’s stock worth $93,000 after buying an additional 167 shares during the period. Covestor Ltd boosted its position in shares of e.l.f. Beauty by 55.7% in the fourth quarter. Covestor Ltd now owns 928 shares of the company’s stock worth $117,000 after buying an additional 332 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of e.l.f. Beauty by 132.2% in the first quarter. GAMMA Investing LLC now owns 1,999 shares of the company’s stock worth $126,000 after buying an additional 1,138 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Trading Down 4.6%

Shares of ELF opened at $110.10 on Friday. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $210.88. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 57.05, a P/E/G ratio of 2.60 and a beta of 1.52. The stock’s 50-day moving average price is $105.57 and its 200 day moving average price is $89.95.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $332.65 million for the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, research analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 97,915 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the completion of the sale, the chief executive officer owned 181,289 shares in the company, valued at approximately $9,673,581.04. The trade was a 35.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Joshua Allen Franks sold 51,353 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the sale, the senior vice president owned 114,660 shares of the company’s stock, valued at $6,118,257.60. The trade was a 30.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,207 shares of company stock worth $25,252,926 over the last ninety days. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

ELF has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on e.l.f. Beauty from $70.00 to $123.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Piper Sandler reiterated an “overweight” rating and set a $109.00 price target (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Robert W. Baird lifted their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, June 6th. UBS Group raised their target price on e.l.f. Beauty from $59.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Finally, B. Riley reissued a “buy” rating and set a $150.00 price objective (up previously from $110.00) on shares of e.l.f. Beauty in a research report on Friday, June 13th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.13.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.