Primecap Management Co. CA Takes $34.92 Million Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Primecap Management Co. CA bought a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) in the 3rd quarter, Holdings Channel.com reports. The firm bought 320,255 shares of the company’s stock, valued at approximately $34,917,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $801,693,000. Swedbank AB bought a new stake in e.l.f. Beauty in the 3rd quarter valued at $76,321,000. Clearbridge Investments LLC lifted its stake in e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after purchasing an additional 576,383 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of e.l.f. Beauty by 223.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after purchasing an additional 383,478 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of e.l.f. Beauty during the first quarter valued at about $61,299,000. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ELF shares. JPMorgan Chase & Co. dropped their price target on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. TD Cowen reduced 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. UBS Group lowered their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Robert W. Baird reduced their target price on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Truist Financial lowered their price target on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

e.l.f. Beauty Stock Performance

ELF stock opened at $122.25 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. The business has a 50-day moving average price of $112.04 and a 200 day moving average price of $153.08. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The company has a market capitalization of $6.89 billion, a P/E ratio of 66.08, a PEG ratio of 2.67 and a beta of 1.44.

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

e.l.f. Beauty Company 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.