KLP Kapitalforvaltning AS Has $1.47 Million Holdings in e.l.f. Beauty $ELF

KLP Kapitalforvaltning AS lifted its holdings in shares of e.l.f. Beauty (NYSE:ELF) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,800 shares of the company’s stock after purchasing an additional 300 shares during the period. KLP Kapitalforvaltning AS’s holdings in e.l.f. Beauty were worth $1,468,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. 111 Capital acquired a new position in shares of e.l.f. Beauty during the second quarter worth $1,173,000. WT Asset Management Ltd acquired a new position in shares of e.l.f. Beauty during the second quarter worth $4,542,000. Ameritas Advisory Services LLC acquired a new position in shares of e.l.f. Beauty during the second quarter worth $106,000. Pinnacle Investment Management Ltd acquired a new position in shares of e.l.f. Beauty during the second quarter worth $1,244,000. Finally, Truist Financial Corp lifted its holdings in shares of e.l.f. Beauty by 49.5% during the second quarter. Truist Financial Corp now owns 7,405 shares of the company’s stock worth $921,000 after purchasing an additional 2,452 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELF shares. JPMorgan Chase & Co. lifted their price target on shares of e.l.f. Beauty from $130.00 to $168.00 and gave the stock an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lowered shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and boosted their target price for the company from $121.00 to $128.00 in a report on Tuesday, September 2nd. Piper Sandler assumed coverage on shares of e.l.f. Beauty in a report on Thursday, September 4th. They issued an “overweight” rating and a $150.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of e.l.f. Beauty in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group set a $165.00 target price on shares of e.l.f. Beauty in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.07.

e.l.f. Beauty Trading Up 2.6%

ELF opened at $133.03 on Tuesday. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99. 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 company has a market cap of $7.89 billion, a P/E ratio of 78.26, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a fifty day moving average price of $128.71 and a two-hundred day moving average price of $105.69.

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

Insider Buying and Selling

In related news, insider Mandy J. Fields sold 5,298 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $150.21, for a total value of $795,812.58. Following the sale, the insider owned 58,856 shares in the company, valued at $8,840,759.76. This represents a 8.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tarang Amin sold 116,315 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $132.24, for a total transaction of $15,381,495.60. Following the completion of the sale, the chief executive officer directly owned 81,818 shares of the company’s stock, valued at $10,819,612.32. The trade was a 58.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,060 shares of company stock worth $40,994,733 over the last ninety days. Insiders own 3.90% of the company’s stock.

e.l.f. Beauty Company 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.