Canada Pension Plan Investment Board Makes New $6.66 Million Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Canada Pension Plan Investment Board acquired a new stake in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,600 shares of the company's stock, valued at approximately $6,659,000. Canada Pension Plan Investment Board owned approximately 0.06% of e.l.f. Beauty as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of e.l.f. Beauty by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company's stock valued at $873,351,000 after acquiring an additional 79,701 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of e.l.f. Beauty during the second quarter valued at $801,693,000. Wellington Management Group LLP lifted its holdings in shares of e.l.f. Beauty by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company's stock worth $366,744,000 after purchasing an additional 126,231 shares during the period. William Blair Investment Management LLC grew its stake in shares of e.l.f. Beauty by 12.5% in the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company's stock worth $318,647,000 after purchasing an additional 168,267 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in e.l.f. Beauty in the first quarter valued at $133,940,000. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Down 1.6 %

Shares of NYSE:ELF traded down $1.83 during trading on Wednesday, reaching $109.59. 2,838,855 shares of the stock were exchanged, compared to its average volume of 1,767,254. The stock has a fifty day moving average of $150.51 and a two-hundred day moving average of $172.84. e.l.f. Beauty, Inc. has a 1-year low of $88.47 and a 1-year high of $221.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 49.15, a price-to-earnings-growth ratio of 2.33 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million for the quarter, compared to analyst estimates of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. Research analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

ELF has been the topic of a number of analyst reports. TD Cowen reduced their price target on 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. Baird R W upgraded shares of e.l.f. Beauty from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 18th. Bank of America reduced their price objective on shares of e.l.f. Beauty from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. B. Riley assumed coverage on shares of e.l.f. Beauty in a research note on Tuesday, September 10th. They set a "buy" rating and a $175.00 target price for the company. Finally, Canaccord Genuity Group upped their price target on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $198.80.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 548 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, the chief executive officer now directly owns 214,507 shares in the company, valued at approximately $37,538,725. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Tarang Amin sold 548 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the transaction, the chief executive officer now owns 214,507 shares in the company, valued at approximately $37,538,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the sale, the senior vice president now directly owns 71,986 shares of the company's stock, valued at $14,489,342.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,832 shares of company stock valued at $7,074,887. Corporate insiders own 5.20% of the company's stock.

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.