The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. e.l.f. Beauty Inc shares valued at $2,272,639 were sold by AMIN TARANG on Sep 05 ’24. At $136.18 per share, AMIN TARANG sold 16,688 shares. The insider’s holdings dropped to 106,016 shares worth approximately $11.04 million following the completion of this transaction.
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Also, AMIN TARANG sold 6,840 shares, netting a total of over 931,234 in proceeds. Following the sale of shares at $136.15 each, the insider now holds 211,087 shares.
Before that, TP AMIN IRREVOCABLE TRUST U/T/ had added 3,420 shares to its account. In a trade valued at $469,634, the Director bought e.l.f. Beauty Inc shares for $137.32 each.
As published in a research note from Truist on October 16, 2024, e.l.f. Beauty Inc [ELF] has been retained to a Buy and the price target has been revised to $130. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of September 09, 2024, BofA Securities has reiterated its “Buy” rating for ELF. Earlier on July 18, 2024, Robert W. Baird upgraded its rating. Their new recommendation was “an Outperform” for ELF stock which previously was a “a Neutral”.
Analyzing ELF Stock Performance
During the last five days, there has been a drop of approximately -4.63%. Over the course of the year, e.l.f. Beauty Inc shares have dropped approximately -27.84%. Shares of the company reached a 52-week high of $221.83 on 03/04/24 and a 52-week low of $98.50 on 11/06/24. A 50-day SMA is recorded $113.80, while a 200-day SMA reached $163.46. Nevertheless, trading volume fell to 6.27 million shares from 1.75 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 99.32, which, if violated, would cause prices to drop to 94.48. In the upper region, resistance lies at 108.18. The next price resistance is at 112.20. RSI (Relative Strength Index) is 42.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.55, which suggests the price will decrease in the coming days. Percent R is at 68.40%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
