Jennison Associates LLC Purchases 174,957 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Jennison Associates LLC boosted its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 47.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 545,779 shares of the company’s stock after acquiring an additional 174,957 shares during the period. Jennison Associates LLC’s holdings in e.l.f. Beauty were worth $59,506,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its position in e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock valued at $512,000 after purchasing an additional 75 shares during the period. Hanseatic Management Services Inc. grew its holdings in shares of e.l.f. Beauty by 1.7% during the second quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock valued at $950,000 after buying an additional 77 shares during the last quarter. Portside Wealth Group LLC increased its position in shares of e.l.f. Beauty by 3.2% during the second quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock worth $628,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC boosted its stake in e.l.f. Beauty by 27.8% during the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after purchasing an additional 98 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in e.l.f. Beauty by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock valued at $1,007,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling at e.l.f. Beauty

In other 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 transaction of $3,210,395.60. Following the completion of the transaction, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

ELF has been the topic of a number of recent research reports. Robert W. Baird dropped their target price on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Canaccord Genuity Group cut their target price on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Bank of America decreased their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Jefferies Financial Group cut their price objective on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley decreased their target price on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock opened at $119.05 on Thursday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 64.35, a price-to-earnings-growth ratio of 2.66 and a beta of 1.44. The company has a fifty day moving average of $111.79 and a 200-day moving average of $153.53. e.l.f. Beauty, Inc. has a 52-week low of $98.50 and a 52-week high of $221.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78.

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

e.l.f. Beauty Company Profile

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.