Itau Unibanco Holding S.A. Acquires Shares of 6,304 e.l.f. Beauty, Inc. (NYSE:ELF)

Itau Unibanco Holding S.A. purchased a new stake in e.l.f. Beauty, Inc. (NYSE:ELF) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 6,304 shares of the company’s stock, valued at approximately $687,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new position in shares of e.l.f. Beauty during the 2nd quarter valued at $6,659,000. Sumitomo Mitsui Trust Group Inc. increased its position in e.l.f. Beauty by 1,380.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock valued at $1,775,000 after buying an additional 15,184 shares in the last quarter. Cetera Investment Advisers lifted its stake in e.l.f. Beauty by 33.8% during the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after acquiring an additional 9,939 shares during the period. Clearbridge Investments LLC lifted its position in e.l.f. Beauty by 84.4% during the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after purchasing an additional 576,383 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in e.l.f. Beauty by 14.2% in the 3rd quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock worth $54,905,000 after purchasing an additional 62,480 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ELF shares. TD Cowen lowered their price target on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. UBS Group dropped their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 9th. DA Davidson reiterated a “buy” rating and set a $170.00 target price on shares of e.l.f. Beauty in a research report on Monday, November 25th. Jefferies Financial Group reduced their target price on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $165.00 target price (up previously from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is owned by company insiders.

e.l.f. Beauty Stock Up 0.9 %

Shares of NYSE:ELF opened at $130.71 on Tuesday. The business has a 50 day simple moving average of $114.03 and a two-hundred day simple moving average of $151.13. The firm has a market capitalization of $7.36 billion, a PE ratio of 70.65, a price-to-earnings-growth ratio of 2.84 and a beta of 1.49. e.l.f. Beauty, Inc. has a 1 year low of $98.50 and a 1 year high of $221.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The firm had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. During the same period in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 39.7% on a year-over-year basis. On average, equities analysts predict that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

About e.l.f. Beauty

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.