Granahan Investment Management LLC Acquires Shares of 77,029 e.l.f. Beauty, Inc. (NYSE:ELF)

Granahan Investment Management LLC acquired a new stake in e.l.f. Beauty, Inc. (NYSE:ELF) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 77,029 shares of the company’s stock, valued at approximately $9,671,000.

A number of other hedge funds have also modified their holdings of ELF. Nisa Investment Advisors LLC increased its position in shares of 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 purchasing an additional 91 shares in the last quarter. Truist Financial Corp grew its stake in 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 buying an additional 102 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of e.l.f. Beauty by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,365 shares of the company’s stock worth $2,055,000 after buying an additional 128 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of e.l.f. Beauty by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,630 shares of the company’s stock valued at $2,967,000 after acquiring an additional 140 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of e.l.f. Beauty by 7.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,089 shares of the company’s stock worth $262,000 after acquiring an additional 150 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at e.l.f. Beauty

In other news, insider Kory Marchisotto sold 51,350 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,036.00. Following the completion of the sale, the insider now owns 152,492 shares in the company, valued at $8,136,973.12. This represents a 25.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tarang Amin sold 97,915 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the completion of the sale, the chief executive officer now owns 181,289 shares of the company’s stock, valued at approximately $9,673,581.04. This trade represents a 35.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,618 shares of company stock valued at $10,974,536 over the last ninety days. 3.50% of the stock is owned by company insiders.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $67.07 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $61.35 and its two-hundred day simple moving average is $94.60. e.l.f. Beauty, Inc. has a 12 month low of $49.40 and a 12 month high of $219.77. The stock has a market capitalization of $3.78 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 6.76 and a beta of 1.31.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

ELF has been the subject of several research analyst reports. Canaccord Genuity Group cut their price objective on e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, February 7th. UBS Group reduced their price target on shares of e.l.f. Beauty from $74.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Truist Financial lowered their price objective on shares of e.l.f. Beauty from $100.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. DA Davidson dropped their target price on shares of e.l.f. Beauty from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Piper Sandler decreased their price target on shares of e.l.f. Beauty from $90.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, e.l.f. Beauty currently has an average rating of “Moderate Buy” and an average target price of $116.88.

e.l.f. Beauty Company Profile

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.