Diversify Advisory Services LLC Lowers Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Diversify Advisory Services LLC cut its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 40.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,072 shares of the company’s stock after selling 1,417 shares during the period. Diversify Advisory Services LLC’s holdings in e.l.f. Beauty were worth $428,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Clearbridge Investments LLC bought a new stake in shares of e.l.f. Beauty in the first quarter worth about $133,940,000. Norges Bank bought a new stake in shares of e.l.f. Beauty in the fourth quarter worth about $95,611,000. 1832 Asset Management L.P. purchased a new position in shares of e.l.f. Beauty during the first quarter valued at approximately $61,299,000. Zevenbergen Capital Investments LLC boosted its position in shares of e.l.f. Beauty by 98.3% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 395,137 shares of the company’s stock valued at $57,034,000 after buying an additional 195,854 shares during the period. Finally, Cercano Management LLC purchased a new position in shares of e.l.f. Beauty during the fourth quarter valued at approximately $24,000,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Stock Down 14.4 %

e.l.f. Beauty stock traded down $27.12 during mid-day trading on Friday, reaching $160.83. 7,408,642 shares of the company were exchanged, compared to its average volume of 1,625,412. The business has a fifty day moving average of $190.75 and a 200 day moving average of $182.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. The firm has a market cap of $9.00 billion, a P/E ratio of 72.45, a PEG ratio of 3.66 and a beta of 1.46. e.l.f. Beauty, Inc. has a 12-month low of $88.47 and a 12-month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. The business had revenue of $324.48 million for the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. Research analysts anticipate that e.l.f. Beauty, Inc. will post 2.84 earnings per share for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other news, insider Jennifer Catherine Hartnett sold 9,808 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total transaction of $1,814,087.68. Following the transaction, the insider now directly owns 61,647 shares of the company’s stock, valued at $11,402,229.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Tarang Amin sold 42,953 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $7,944,586.88. Following the transaction, the chief executive officer now directly owns 258,667 shares of the company’s stock, valued at approximately $47,843,048.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Catherine Hartnett sold 9,808 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total value of $1,814,087.68. Following the completion of the transaction, the insider now directly owns 61,647 shares in the company, valued at $11,402,229.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,390 shares of company stock valued at $18,264,873. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELF. Baird R W upgraded e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Robert W. Baird boosted their target price on e.l.f. Beauty from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen boosted their target price on e.l.f. Beauty from $190.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. UBS Group dropped their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group boosted their price target on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.64.

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.