Texas Permanent School Fund Corp Increases Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Texas Permanent School Fund Corp increased its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 1.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,579 shares of the company’s stock after buying an additional 895 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of e.l.f. Beauty worth $9,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ELF. Armstrong Advisory Group Inc. increased its stake in e.l.f. Beauty by 390.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after acquiring an additional 160 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of e.l.f. Beauty in the first quarter valued at $31,000. Oakworth Capital Inc. acquired a new stake in shares of e.l.f. Beauty in the first quarter valued at $33,000. GPS Wealth Strategies Group LLC grew its stake in shares of e.l.f. Beauty by 66.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock valued at $35,000 after buying an additional 97 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of e.l.f. Beauty in the first quarter valued at $40,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock traded up $9.51 on Thursday, hitting $208.97. The stock had a trading volume of 1,133,727 shares, compared to its average volume of 1,569,830. e.l.f. Beauty, Inc. has a 52-week low of $88.47 and a 52-week high of $221.83. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.25. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 89.90, a P/E/G ratio of 5.15 and a beta of 1.46. The company’s 50 day moving average price is $186.81 and its 200 day moving average price is $177.98.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.16. The firm had revenue of $321.14 million for the quarter, compared to analysts’ expectations of $292.47 million. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. On average, research analysts anticipate that e.l.f. Beauty, Inc. will post 2.85 EPS for the current year.

Insider Activity at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $165.16, for a total value of $120,071.32. Following the transaction, the senior vice president now owns 83,736 shares in the company, valued at approximately $13,829,837.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other e.l.f. Beauty news, CEO Tarang Amin sold 74,451 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $166.40, for a total transaction of $12,388,646.40. Following the transaction, the chief executive officer now owns 316,161 shares in the company, valued at approximately $52,609,190.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $165.16, for a total value of $120,071.32. Following the transaction, the senior vice president now owns 83,736 shares in the company, valued at approximately $13,829,837.76. The disclosure for this sale can be found here. Insiders have sold 264,721 shares of company stock worth $46,009,001 in the last quarter. Company insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ELF shares. Canaccord Genuity Group lifted their price objective on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Raymond James reaffirmed a “strong-buy” rating and issued a $235.00 price objective (up from $215.00) on shares of e.l.f. Beauty in a research note on Friday, June 14th. Truist Financial lifted their target price on e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Piper Sandler lifted their target price on e.l.f. Beauty from $210.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on e.l.f. Beauty from $197.00 to $182.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average price target of $203.07.

About e.l.f. Beauty

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.