Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. e.l.f. Beauty Inc. shares valued at $1,441,608 were sold by AMIN TARANG on Aug 01. At $33.87 per share, AMIN TARANG sold 42,561 shares. The insider’s holdings dropped to 411,915 shares worth approximately $14.9 million following the completion of this transaction.
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Also, AMIN TARANG sold 42,561 shares, netting a total of over 1,277,493 in proceeds. Following the sale of shares at $30.02 each, the insider now holds 415,785 shares.
Before that, Milsten Scott had sold 26,840 shares from its account. In a trade valued at $808,992, the traded e.l.f. Beauty Inc. shares for $30.14 each. Upon closing the transaction, the insider’s holdings decreased to 26,840 shares, worth approximately $4.62 million.
As published in a research note from DA Davidson on May 26, 2022, e.l.f. Beauty Inc. [ELF] has been retained to a Buy and the price target has been revised to $42. This represents a 13.86% premium over Thursday’s closing price. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early November. As of August 05, 2021, Citigroup has increased its “Neutral” rating to a “Buy” for ELF. Earlier on July 14, 2021, Raymond James initiated its rating. Their recommendation was “an Outperform” for ELF stock.
Analyzing ELF’s Price Performance
On Thursday, e.l.f. Beauty Inc. [NYSE: ELF] rose 6.82% to $36.18. The stock’s lowest price that day was $34.76, but it reached a high of $36.74 in the same session. During the last five days, there has been a surge of approximately 9.01%. Over the course of the year, e.l.f. Beauty Inc. shares have jumped approximately 8.94%. Shares of the company reached a 52-week high of $36.74 on 08/04/22 and a 52-week low of $20.49 on 05/20/22. A 50-day SMA is recorded $29.41, while a 200-day SMA reached $28.28. Nevertheless, trading volume fell to 1.98 million shares from 0.52 million shares the previous day.
Support And Resistance Levels for e.l.f. Beauty Inc. (ELF)
According to the 24-hour chart, there is a support level at 35.05, which, if violated, would cause prices to drop to 33.91. In the upper region, resistance lies at 37.03. The next price resistance is at 37.87. RSI (Relative Strength Index) is 73.91 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.30, which suggests the price will increase in the coming days. Percent R is at 10.89%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is e.l.f. Beauty Inc. subject to short interest?
Stocks of e.l.f. Beauty Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.28 million shares to 2.57 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.29 million shares. A jump of 10.89% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.
Which companies own the most shares of e.l.f. Beauty Inc. (ELF)?
According to BlackRock Fund Advisors filings, the company currently owns 6,825,619 shares, which is about 13.06% of the total ELF shares outstanding. The investor’s shares have appreciated by 32,444 from its previous 13-F filing of 6793175.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $164,610,104. Champlain Investment Partners LLC reduced a -4.60% interest valued at $90.06 million while Victory Capital Management, Inc. purchased a 200,128 stake. A total of 56,650 shares of e.l.f. Beauty Inc. were bought by Ranger Investment Management LP during the quarter, and 410,754 were bought by Jennison Associates LLC. In its current portfolio, SSgA Funds Management, Inc. holds 1,525,830 shares valued at $46.81 million.
In terms of e.l.f. Beauty Inc. share price expectations, FactSet research, analysts set an average price target of $38.44 in the next 12 months, up nearly 15.15% from the previous closing price of $33.87. Analysts anticipate e.l.f. Beauty Inc. stock to reach $42.00 by 2022, with the lowest price target being $35.00. In spite of this, 11 analysts ranked e.l.f. Beauty Inc. stock as an Overweight at the end of 2022. On March 10, 2021, Piper Sandler assigned a price target of “an Overweight” to the stock and upgraded coverage with a $30.