Raymond James Financial Inc. Sells 218,318 Shares of e.l.f. Beauty $ELF

Raymond James Financial Inc. reduced its position in shares of e.l.f. Beauty (NYSE:ELF) by 39.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 329,474 shares of the company’s stock after selling 218,318 shares during the quarter. Raymond James Financial Inc. owned about 0.58% of e.l.f. Beauty worth $20,688,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in e.l.f. Beauty in the fourth quarter worth $30,000. Golden State Wealth Management LLC bought a new stake in e.l.f. Beauty in the first quarter worth $33,000. Larson Financial Group LLC lifted its position in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company’s stock worth $42,000 after buying an additional 244 shares during the last quarter. Signaturefd LLC lifted its position in e.l.f. Beauty by 27.9% in the first quarter. Signaturefd LLC now owns 858 shares of the company’s stock worth $54,000 after buying an additional 187 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in e.l.f. Beauty in the first quarter worth $69,000. 92.44% of the stock is currently owned by institutional investors.

Insider Activity

In other e.l.f. Beauty news, insider Kory Marchisotto sold 11,860 shares of e.l.f. Beauty stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,370,541.60. Following the transaction, the insider owned 159,799 shares in the company, valued at $18,466,372.44. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Catherine Hartnett sold 18,383 shares of e.l.f. Beauty stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $109.99, for a total value of $2,021,946.17. Following the completion of the transaction, the insider owned 54,163 shares in the company, valued at $5,957,388.37. This trade represents a 25.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,219 shares of company stock valued at $15,098,642. Company insiders own 3.90% of the company’s stock.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $115.18 on Wednesday. The firm has a market cap of $6.83 billion, a P/E ratio of 67.75, a P/E/G ratio of 2.81 and a beta of 1.57. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $159.22. The stock’s fifty day moving average price is $118.09 and its 200-day moving average price is $89.77.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. On average, equities research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial raised their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Robert W. Baird raised their price target on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. B. Riley restated a “buy” rating and issued a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a research report on Friday, June 13th. Raymond James Financial increased their target price on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. Finally, UBS Group reduced their target price on e.l.f. Beauty from $120.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. One 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.81.

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.