Allspring Global Investments Holdings LLC Cuts Stock Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Allspring Global Investments Holdings LLC lessened its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 14.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 284,317 shares of the company’s stock after selling 46,210 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in e.l.f. Beauty were worth $41,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELF. Wakefield Asset Management LLLP lifted its holdings in e.l.f. Beauty by 6.9% during the fourth quarter. Wakefield Asset Management LLLP now owns 6,758 shares of the company’s stock worth $975,000 after buying an additional 439 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of e.l.f. Beauty by 30.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,662 shares of the company’s stock worth $5,155,000 after purchasing an additional 8,408 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in e.l.f. Beauty during the fourth quarter valued at about $24,809,000. AMI Asset Management Corp purchased a new position in e.l.f. Beauty in the fourth quarter valued at about $1,315,000. Finally, State of Alaska Department of Revenue raised its holdings in e.l.f. Beauty by 0.3% in the fourth quarter. State of Alaska Department of Revenue now owns 33,993 shares of the company’s stock worth $4,906,000 after purchasing an additional 85 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ELF has been the topic of a number of analyst reports. Robert W. Baird assumed coverage on shares of e.l.f. Beauty in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $185.00 price objective on the stock. Stifel Nicolaus upped their price target on e.l.f. Beauty from $141.00 to $167.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. DA Davidson reiterated a “buy” rating and set a $220.00 price objective on shares of e.l.f. Beauty in a report on Monday. Truist Financial boosted their target price on e.l.f. Beauty from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler increased their price target on e.l.f. Beauty from $225.00 to $228.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.83.

e.l.f. Beauty Trading Down 0.1 %

Shares of NYSE:ELF opened at $167.05 on Friday. The business has a 50-day moving average price of $187.09 and a 200-day moving average price of $146.64. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 1.54 and a beta of 1.57. e.l.f. Beauty, Inc. has a 52-week low of $83.80 and a 52-week high of $221.83. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $270.94 million during the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a net margin of 14.53% and a return on equity of 28.98%. Equities analysts predict that e.l.f. Beauty, Inc. will post 2.49 EPS for the current year.

Insider Activity

In related news, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the transaction, the chief executive officer now directly owns 10,889 shares in the company, valued at $2,165,713.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.20% of the company’s stock.

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.