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 $1,349,327 were sold by Franks Joshua Allen on Mar 08 ’24. At $206.32 per share, Franks Joshua Allen sold 6,540 shares. The insider’s holdings dropped to 84,463 shares worth approximately $14.12 million following the completion of this transaction.
Also, AMIN TARANG sold 23,519 shares, netting a total of over 4,677,740 in proceeds. Following the sale of shares at $198.89 each, the insider now holds 10,889 shares.
Before that, Tait Gayle had sold 835 shares from its account. In a trade valued at $172,010, the Director traded e.l.f. Beauty Inc shares for $206.00 each. Upon closing the transaction, the insider’s holdings decreased to 835 shares, worth approximately $0.5 million.
As published in their initiating research note from Robert W. Baird on January 30, 2024, e.l.f. Beauty Inc [ELF] has been a Neutral and the price target has been revised to $185. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late January. As of October 23, 2023, Raymond James has increased its “an Outperform” rating to a “Strong buy” for ELF. Earlier on October 06, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for ELF stock which previously was a “a Hold”.
Analyzing ELF Stock Performance
During the last five days, there has been a surge of approximately 2.08%. Over the course of the year, e.l.f. Beauty Inc shares have jumped approximately 15.82%. Shares of the company reached a 52-week high of $221.83 on 03/04/24 and a 52-week low of $131.50 on 01/02/24. A 50-day SMA is recorded $186.01, while a 200-day SMA reached $138.39. Nevertheless, trading volume fell to 1.66 million shares from 1.34 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 164.25, which, if violated, would cause prices to drop to 161.31. In the upper region, resistance lies at 172.27. The next price resistance is at 177.35. RSI (Relative Strength Index) is 36.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -16.02, which suggests the price will decrease in the coming days. Percent R is at 86.62%, indicating bearish price movement. Stochastics %K at buying 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 steep in short interest on Mar 15, 2024 dropping by -0.17 million shares to 2.69 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.86 million shares. A decline of -6.32% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.1 of the overall float, the days-to-cover ratio (short ratio) decline to 2.1.
