Harbor Capital Advisors Inc. Boosts Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Harbor Capital Advisors Inc. lifted its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 42.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,235 shares of the company’s stock after purchasing an additional 30,530 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in e.l.f. Beauty were worth $6,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ELF. Baillie Gifford & Co. raised its stake in shares of e.l.f. Beauty by 51.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock worth $1,005,584,000 after purchasing an additional 2,703,742 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of e.l.f. Beauty by 99.7% in the fourth quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company’s stock worth $279,531,000 after purchasing an additional 1,111,550 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of e.l.f. Beauty by 40.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock worth $289,437,000 after purchasing an additional 669,321 shares during the last quarter. Aspex Management HK Ltd purchased a new position in shares of e.l.f. Beauty in the fourth quarter worth $73,576,000. Finally, Raymond James Financial Inc. purchased a new position in shares of e.l.f. Beauty in the fourth quarter worth $68,775,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

In other news, CEO Tarang Amin sold 97,915 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $53.36, for a total value of $5,224,744.40. Following the transaction, the chief executive officer now directly owns 181,289 shares in the company, valued at $9,673,581.04. The trade was a 35.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kory Marchisotto sold 51,350 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 152,492 shares in the company, valued at $8,136,973.12. The trade was a 25.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,207 shares of company stock worth $25,252,926 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELF. Bank of America boosted their price target on e.l.f. Beauty from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price objective on e.l.f. Beauty from $70.00 to $123.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Raymond James lifted their price objective on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Canaccord Genuity Group set a $114.00 price objective on e.l.f. Beauty in a report on Thursday, May 29th. Finally, Morgan Stanley lifted their price objective on e.l.f. Beauty from $70.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.71.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $117.93 on Wednesday. The stock has a 50-day simple moving average of $74.61 and a two-hundred day simple moving average of $91.36. e.l.f. Beauty, Inc. has a 52-week low of $49.40 and a 52-week high of $219.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90. The firm has a market capitalization of $6.64 billion, a PE ratio of 69.78, a P/E/G ratio of 6.76 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. The business had revenue of $332.65 million during the quarter, compared to analyst estimates of $327.45 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. e.l.f. Beauty’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

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.