Primecap Management Co. CA increased its holdings in e.l.f. Beauty (NYSE: ELF) by **13.6%** during the second quarter of 2023. According to the firm’s latest **13F filing** with the **Securities and Exchange Commission (SEC)**, Primecap now owns **450,000 shares** of the beauty brand after acquiring an additional **54,035 shares** during this period. The investment is currently valued at approximately **$55.998 million**, representing about **0.79%** of the company’s total shares.
Several other institutional investors have also adjusted their positions in e.l.f. Beauty recently. For instance, the **Louisiana State Employees Retirement System** increased its stake by **0.6%**, bringing its total to **15,900 shares**, valued at **$1.979 million**. Similarly, **Securian Asset Management Inc.** raised its position by **2.4%**, now holding **4,327 shares** worth **$538,000**. The **State of Michigan Retirement System** boosted its holdings by **0.7%**, totaling **13,600 shares** valued at **$1.692 million**.
Another significant adjustment came from **Farther Finance Advisors LLC**, which increased its stake by **11.8%**, now owning **993 shares** valued at **$124,000**. Finally, **Portside Wealth Group LLC** enhanced its position by **2.2%**, holding **6,728 shares** worth **$837,000**. Collectively, institutional investors now own **92.44%** of e.l.f. Beauty’s stock.
Insider Trading Activity
In addition to these institutional changes, insider trading has been notable. On **September 8**, insider **Mandy J. Fields** sold **55,692 shares** of e.l.f. Beauty at an average price of **$136.28**, totaling approximately **$7.59 million**. Following this transaction, Fields retains **64,154 shares**, valued at around **$8.74 million**, reflecting a **46.47%** decrease in her position.
Furthermore, CEO **Tarang Amin** sold **116,315 shares** on **October 1**, with an average sale price of **$132.24**, amounting to about **$15.38 million**. Post-sale, Amin owns **81,818 shares** worth approximately **$10.82 million**, marking a **58.71%** reduction in his stake. In total, company insiders have sold **296,430 shares** valued at approximately **$40.44 million** over the past ninety days. Insiders hold **3.90%** of e.l.f. Beauty’s shares.
Recent Financial Performance
e.l.f. Beauty’s stock has recently experienced a drop of **2.5%**. The company released its quarterly earnings data on **November 5**, reporting earnings per share (EPS) of **$0.68**, exceeding analysts’ expectations of **$0.57** by **$0.11**. Revenue for the quarter reached **$343.94 million**, although this fell short of the anticipated **$367.89 million**. The company reported a net margin of **5.90%** and a return on equity of **13.77%**. Comparatively, e.l.f. Beauty had an EPS of **$0.77** during the same quarter last year, marking a **14.2%** year-over-year increase in revenue.
For the fiscal year **2026**, e.l.f. Beauty has set guidance for an EPS between **$2.800** and **$2.850**. Analysts predict the company will post an EPS of **$2.38** for the current year.
Analyst Ratings and Price Targets
Analysts have recently provided mixed insights on e.l.f. Beauty’s stock. The **Goldman Sachs Group** has downgraded its price target from **$155.00** to **$135.00** while maintaining a “buy” rating. Conversely, **Wall Street Zen** has lowered its rating from “hold” to “sell.” In a separate report, **Zacks Research** issued a “strong sell” rating, reflecting growing caution among analysts. **Jefferies Financial Group** also reduced its price target from **$150.00** to **$120.00**, while reiterating a “buy” rating.
Overall, one analyst has rated the stock as a Strong Buy, ten have rated it as Buy, six as Hold, and one as Sell. According to data from **MarketBeat**, the consensus rating for e.l.f. Beauty stands at “Moderate Buy” with an average target price of **$126.80**.
e.l.f. Beauty, Inc. specializes in providing inclusive, accessible, clean, vegan, and cruelty-free cosmetics and skincare products. The company focuses on e-commerce, national retailers, and international markets. Its brands include **e.l.f.**, **e.l.f. Skin**, **WELL People**, and **KEYS Soulcare**.
