Granahan Investment Management LLC Takes Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Granahan Investment Management LLC acquired a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 77,029 shares of the company’s stock, valued at approximately $9,671,000. Granahan Investment Management LLC owned 0.14% of e.l.f. Beauty at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of e.l.f. Beauty by 3.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,872 shares of the company’s stock valued at $361,000 after buying an additional 91 shares during the period. Truist Financial Corp raised its position 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 period. Arizona State Retirement System lifted 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 valued at $2,055,000 after purchasing an additional 128 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in e.l.f. Beauty by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,630 shares of the company’s stock worth $2,967,000 after purchasing an additional 140 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in e.l.f. Beauty by 7.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,089 shares of the company’s stock worth $262,000 after buying an additional 150 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ELF shares. Stifel Nicolaus lowered their price objective on shares of e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Piper Sandler dropped their price target on e.l.f. Beauty from $90.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on e.l.f. Beauty from $127.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. DA Davidson dropped their target price 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, Truist Financial decreased their price target on shares of e.l.f. Beauty from $100.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.88.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock 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 has a fifty day simple moving average of $61.35 and a 200-day simple moving average of $94.60. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 6.76 and a beta of 1.31. e.l.f. Beauty, Inc. has a 1-year low of $49.40 and a 1-year high of $219.77.

e.l.f. Beauty (NYSE:ELF) last released its quarterly 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%. On average, sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other e.l.f. Beauty news, Director Maureen C. Watson sold 4,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the sale, the director now directly owns 1,888 shares of the company’s stock, valued at $127,232.32. This represents a 67.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joshua Allen Franks sold 51,353 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the transaction, the senior vice president now directly owns 114,660 shares of the company’s stock, valued at $6,118,257.60. This represents a 30.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,618 shares of company stock valued at $10,974,536 in the last three months. Company insiders own 3.50% of the company’s stock.

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.