Clearbridge Investments LLC Increases Stock Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Clearbridge Investments LLC lifted its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,772,528 shares of the company's stock after acquiring an additional 264,296 shares during the quarter. Clearbridge Investments LLC owned 3.15% of e.l.f. Beauty worth $222,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in e.l.f. Beauty by 51.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company's stock worth $1,005,584,000 after acquiring an additional 2,703,742 shares during the last quarter. Vanguard Group Inc. increased its holdings in e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock valued at $690,174,000 after buying an additional 68,103 shares during the last quarter. William Blair Investment Management LLC raised its stake in e.l.f. Beauty by 40.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company's stock valued at $289,437,000 after buying an additional 669,321 shares in the last quarter. State Street Corp lifted its holdings in e.l.f. Beauty by 3.7% during the 3rd quarter. State Street Corp now owns 1,665,203 shares of the company's stock worth $181,557,000 after buying an additional 59,248 shares during the last quarter. Finally, FMR LLC boosted its position in shares of e.l.f. Beauty by 5.5% during the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company's stock worth $129,393,000 after acquiring an additional 61,524 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELF. Deutsche Bank Aktiengesellschaft assumed coverage on shares of e.l.f. Beauty in a research report on Thursday, December 12th. They issued a "hold" rating and a $133.00 target price on the stock. The Goldman Sachs Group decreased their target price on e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. DA Davidson decreased their price objective on e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Truist Financial lifted their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.24.

e.l.f. Beauty Stock Performance

ELF traded down $0.14 during trading on Friday, reaching $54.88. The company's stock had a trading volume of 5,019,082 shares, compared to its average volume of 2,289,035. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 6.76 and a beta of 1.41. The company's fifty day moving average price is $73.38 and its 200-day moving average price is $104.02. e.l.f. Beauty, Inc. has a 52-week low of $49.90 and a 52-week high of $219.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. On average, equities analysts forecast that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Maureen C. Watson sold 4,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $67.39, for a total transaction of $269,560.00. Following the sale, the director now owns 1,888 shares of the company's stock, valued at approximately $127,232.32. The trade was a 67.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.50% of the company's stock.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.