e.l.f. Beauty, Inc. (NYSE:ELF) Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC reduced its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,289 shares of the company’s stock after selling 20,360 shares during the quarter. Portolan Capital Management LLC’s holdings in e.l.f. Beauty were worth $13,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in e.l.f. Beauty during the second quarter worth about $6,659,000. Sumitomo Mitsui Trust Group Inc. grew its position in e.l.f. Beauty by 1,380.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock worth $1,775,000 after buying an additional 15,184 shares during the period. Cetera Investment Advisers grew its position in e.l.f. Beauty by 33.8% during the second quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock worth $8,285,000 after buying an additional 9,939 shares during the period. Clearbridge Investments LLC grew its position in e.l.f. Beauty by 84.4% during the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after buying an additional 576,383 shares during the period. Finally, Congress Asset Management Co. grew its position in e.l.f. Beauty by 14.2% during the third quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock worth $54,905,000 after buying an additional 62,480 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $130.00, for a total value of $102,050.00. Following the sale, the director now owns 1,888 shares of the company’s stock, valued at $245,440. The trade was a 29.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the sale, the chief executive officer now directly owns 106,016 shares in the company, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

e.l.f. Beauty Stock Performance

ELF stock opened at $127.39 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 68.86, a P/E/G ratio of 2.86 and a beta of 1.49. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83. The firm has a 50 day moving average of $114.35 and a two-hundred day moving average of $150.91.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, equities analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ELF shares. TD Cowen lowered their price target on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Robert W. Baird lowered their price target on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Bank of America lowered their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Profile

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.