Sumitomo Mitsui Trust Group Inc. Grows Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Sumitomo Mitsui Trust Group Inc. raised its position in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 1,380.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,284 shares of the company's stock after buying an additional 15,184 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in e.l.f. Beauty were worth $1,775,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Picton Mahoney Asset Management boosted its position in e.l.f. Beauty by 3.2% during the second quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company's stock worth $512,000 after purchasing an additional 75 shares during the period. Hanseatic Management Services Inc. lifted its stake in e.l.f. Beauty by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company's stock worth $950,000 after purchasing an additional 77 shares during the last quarter. Portside Wealth Group LLC increased its stake in e.l.f. Beauty by 3.2% in the 2nd quarter. Portside Wealth Group LLC now owns 2,982 shares of the company's stock worth $628,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC increased its stake in shares of e.l.f. Beauty by 27.8% in the second quarter. GAMMA Investing LLC now owns 451 shares of the company's stock worth $95,000 after buying an additional 98 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of e.l.f. Beauty by 2.1% during the second quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company's stock worth $1,007,000 after purchasing an additional 99 shares during the period. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Trading Down 2.2 %

e.l.f. Beauty stock traded down $2.66 during mid-day trading on Wednesday, hitting $119.05. The company's stock had a trading volume of 11,717,601 shares, compared to its average volume of 1,963,222. e.l.f. Beauty, Inc. has a one year low of $98.50 and a one year high of $221.83. The stock has a market cap of $6.71 billion, a PE ratio of 61.06, a P/E/G ratio of 2.66 and a beta of 1.44. The company has a 50 day moving average of $111.79 and a 200-day moving average of $153.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The business had revenue of $301.10 million during the quarter, compared to analysts' expectations of $289.43 million. During the same period in the prior year, the business earned $0.66 EPS. The business's revenue for the quarter was up 39.7% compared to the same quarter last year. On average, research analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ELF shares. UBS Group dropped their target price 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. DA Davidson decreased their price objective on e.l.f. Beauty from $223.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Piper Sandler restated an "overweight" rating and issued a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. Robert W. Baird lowered their price objective on e.l.f. Beauty from $240.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and a consensus target price of $173.53.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction dated Thursday, September 5th. The stock was 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 directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is currently owned by company insiders.

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.