American Century Companies Inc. Has $12.41 Million Position in e.l.f. Beauty $ELF

American Century Companies Inc. cut its stake in shares of e.l.f. Beauty (NYSE:ELF) by 65.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,559 shares of the company’s stock after selling 378,717 shares during the period. American Century Companies Inc. owned about 0.35% of e.l.f. Beauty worth $12,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELF. Aurora Investment Counsel purchased a new position in shares of e.l.f. Beauty during the 1st quarter valued at $294,000. Caas Capital Management LP boosted its position in e.l.f. Beauty by 1,466.7% during the first quarter. Caas Capital Management LP now owns 4,700 shares of the company’s stock valued at $295,000 after purchasing an additional 4,400 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in e.l.f. Beauty by 42.0% in the first quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company’s stock valued at $6,482,000 after purchasing an additional 30,530 shares in the last quarter. Granahan Investment Management LLC purchased a new position in e.l.f. Beauty in the fourth quarter valued at about $9,671,000. Finally, Vontobel Holding Ltd. increased its position in e.l.f. Beauty by 165.6% in the 1st quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company’s stock worth $953,000 after purchasing an additional 9,466 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

ELF has been the subject of several recent research reports. B. Riley reissued a “buy” rating and issued a $150.00 price target (up previously from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. Deutsche Bank Aktiengesellschaft upgraded shares of e.l.f. Beauty from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, August 8th. Morgan Stanley upgraded shares of e.l.f. Beauty from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $114.00 to $134.00 in a research note on Monday, August 11th. Canaccord Genuity Group cut their price target on shares of e.l.f. Beauty from $150.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Truist Financial upped their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $123.81.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $114.10 on Tuesday. The firm has a market capitalization of $6.77 billion, a PE ratio of 67.12, a PEG ratio of 2.92 and a beta of 1.57. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $162.34. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $118.30 and its 200 day simple moving average is $89.59.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $353.74 million during the quarter, compared to analysts’ expectations of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. On average, sell-side analysts anticipate that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 24,533 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total transaction of $2,835,033.48. Following the completion of the transaction, the chief executive officer directly owned 188,991 shares in the company, valued at $21,839,799.96. This represents a 11.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott Milsten sold 11,860 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the completion of the sale, the insider directly owned 118,836 shares of the company’s stock, valued at approximately $13,732,688.16. This trade represents a 9.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,219 shares of company stock valued at $15,098,642. 3.90% of the stock is owned by corporate insiders.

e.l.f. Beauty Profile

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.