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Taking a look at what insiders are doing to gauge the e.l.f. Beauty Inc (ELF)’s direction

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. e.l.f. Beauty Inc shares valued at $3,850,083 were sold by AMIN TARANG on May 06 ’24. At $163.70 per share, AMIN TARANG sold 23,519 shares. The insider’s holdings dropped to 10,890 shares worth approximately $1.83 million following the completion of this transaction.

Also, Franks Joshua Allen sold 12,506 shares, netting a total of over 2,157,285 in proceeds. Following the sale of shares at $172.50 each, the insider now holds 86,237 shares.

Before that, FIELDS MANDY J had sold 1,250 shares from its account. In a trade valued at $218,625, the insider traded e.l.f. Beauty Inc shares for $174.90 each. Upon closing the transaction, the insider’s holdings decreased to 1,250 shares, worth approximately $12.99 million.

As published in a research note from TD Cowen on April 17, 2024, e.l.f. Beauty Inc [ELF] has been rated up from a Hold to a Buy and the price target has been revised to $190 from $220. Analysts at Robert W. Baird started covering the stock with ‘”a Neutral”‘ outlook in a report released in late January. As of January 22, 2024, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for ELF. Earlier on October 23, 2023, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for ELF stock which previously was a “an Outperform”.

Analyzing ELF Stock Performance

During the last five days, there has been a surge of approximately 4.30%. Over the course of the year, e.l.f. Beauty Inc shares have jumped approximately 16.61%. 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 $178.66, while a 200-day SMA reached $144.98. Nevertheless, trading volume fell to 1.33 million shares from 1.08 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 165.18, which, if violated, would cause prices to drop to 162.04. In the upper region, resistance lies at 170.61. The next price resistance is at 172.91. RSI (Relative Strength Index) is 49.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.06, which suggests the price will decrease in the coming days. Percent R is at 51.04%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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