Jennison Associates LLC Has $59.51 Million Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Jennison Associates LLC increased its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 47.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 545,779 shares of the company's stock after buying an additional 174,957 shares during the quarter. Jennison Associates LLC owned about 0.97% of e.l.f. Beauty worth $59,506,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in shares of e.l.f. Beauty during the third quarter worth about $102,000. Premier Fund Managers Ltd grew its position in e.l.f. Beauty by 32.3% in the 3rd quarter. Premier Fund Managers Ltd now owns 9,259 shares of the company's stock worth $1,042,000 after purchasing an additional 2,259 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of e.l.f. Beauty by 93.1% in the third quarter. Avior Wealth Management LLC now owns 3,085 shares of the company's stock valued at $336,000 after purchasing an additional 1,487 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of e.l.f. Beauty by 29.6% during the third quarter. PNC Financial Services Group Inc. now owns 9,392 shares of the company's stock valued at $1,024,000 after buying an additional 2,146 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of e.l.f. Beauty during the third quarter worth approximately $3,053,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ELF. UBS Group decreased 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. Jefferies Financial Group lowered their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Truist Financial decreased their price target on e.l.f. Beauty from $210.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group dropped their price objective on e.l.f. Beauty from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Finally, DA Davidson decreased their target price on e.l.f. Beauty from $223.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. One equities 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. Based on data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.53.

e.l.f. Beauty Stock Up 0.5 %

NYSE:ELF traded up $0.65 on Thursday, hitting $119.65. 1,069,948 shares of the company's stock traded hands, compared to its average volume of 1,956,646. The company has a market cap of $6.74 billion, a PE ratio of 64.35, a price-to-earnings-growth ratio of 2.67 and a beta of 1.44. 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 current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $111.89 and a 200-day moving average price of $153.29.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The firm had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm's revenue was up 39.7% on a year-over-year basis. Equities analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is owned by corporate insiders.

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.