Platinum Investment Management Ltd. Purchases Shares of 37,300 e.l.f. Beauty, Inc. (NYSE:ELF)

Platinum Investment Management Ltd. purchased a new stake in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 37,300 shares of the company's stock, valued at approximately $4,683,000. Platinum Investment Management Ltd. owned approximately 0.07% of e.l.f. Beauty as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in e.l.f. Beauty by 3.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,872 shares of the company's stock worth $361,000 after acquiring an additional 91 shares during the last quarter. Truist Financial Corp grew its holdings in shares of e.l.f. Beauty by 1.3% during the fourth quarter. Truist Financial Corp now owns 7,885 shares of the company's stock worth $990,000 after purchasing an additional 102 shares during the last quarter. Arizona State Retirement System increased its stake in shares of e.l.f. Beauty by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,365 shares of the company's stock valued at $2,055,000 after buying an additional 128 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of e.l.f. Beauty by 7.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,089 shares of the company's stock valued at $262,000 after buying an additional 150 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in e.l.f. Beauty by 29.0% during the 4th quarter. Horizon Investments LLC now owns 742 shares of the company's stock worth $93,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

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Insider Activity at e.l.f. Beauty

In other news, Director Maureen C. Watson sold 4,000 shares of the 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 completion of the transaction, the director now directly owns 1,888 shares in the company, valued at $127,232.32. This represents a 67.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

ELF has been the subject of a number of research analyst reports. B. Riley reaffirmed a "buy" rating and issued a $90.00 target price (down from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Piper Sandler reduced their price objective on e.l.f. Beauty from $167.00 to $131.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group dropped 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. DA Davidson decreased their price target on e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $70.00 price objective (down from $153.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $132.65.

e.l.f. Beauty Stock Up 0.8 %

Shares of ELF traded up $0.50 during midday trading on Friday, hitting $62.91. The stock had a trading volume of 2,290,203 shares, compared to its average volume of 2,224,539. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 6.76 and a beta of 1.60. The company has a 50 day simple moving average of $85.71 and a two-hundred day simple moving average of $107.89. e.l.f. Beauty, Inc. has a twelve month low of $60.35 and a twelve month high of $219.77.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. On average, analysts anticipate that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

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.