E.l.f. Beauty, Inc. (NYSE:ELF) Chief Commercial Officer Jennifer Catherine Hartnett has recently sold 9,808 shares of company stock, according to the latest SEC filings. The transaction, dated June 5, 2024, was executed at an average price of $184.96 per share, resulting in a total value of approximately $1.81 million.
The sale was conducted to satisfy tax and other government withholding obligations related to the vesting of Restricted Stock Units (RSUs) of the issuer. It's worth noting that these shares do not include Performance Stock Units, which are vested based on performance metrics and are expected to be reported upon achievement.
Prior to this sale, Hartnett acquired 11,198 shares of e.l.f. Beauty (NYSE:ELF) stock at no cost on June 3, 2024. These shares reflect RSUs that vest in four equal annual installments, contingent on continued service. Following these transactions, Hartnett's direct ownership in the company stands at 61,647 shares, which includes 52,010 RSUs.
Investors often monitor insider transactions as they can provide insights into how company executives view the stock's valuation and future prospects. The trading activities of insiders like Hartnett are routinely disclosed through SEC filings, providing transparency and valuable information to the market.
Shares of e.l.f. Beauty, a company known for its cosmetics and other beauty products, are publicly traded on the New York Stock Exchange under the ticker symbol ELF. The recent transactions by Hartnett represent significant activity by an executive of the company and are likely to be of interest to current and potential investors.
In other recent news, e.l.f. Beauty has been the focus of multiple analyst firms following its impressive financial performance for the fourth quarter and fiscal year 2024, with net sales surpassing $1 billion, marking a 77% growth in net sales, and a 101% increase in adjusted EBITDA. TD Cowen raised the company's price target from $190.00 to $235.00, maintaining a Buy rating based on e.l.f. Beauty's growth prospects, particularly in international markets and skincare segments. Concurrently, DA Davidson added e.l.f. Beauty to its 'Best-of-Breed Bison' list, reiterating a Buy rating and a $220 price target, recognizing the company's financial strength.
Truist Securities also expressed confidence in e.l.f. Beauty's financial future, raising the stock's price target from $200 to $210 while sustaining a Buy rating. Despite a slight reduction in the price target to $210, Piper Sandler maintained an Overweight rating on e.l.f. Beauty's stock, emphasizing the company's significant growth potential. Finally, TD Cowen also retained a Buy rating and a $190 stock price target for e.l.f. Beauty, noting the company's exceptional growth and potential for increased market presence. These recent developments reflect analysts' confidence in e.l.f. Beauty's strategic initiatives and its ability to capitalize on market opportunities.
InvestingPro Insights
As e.l.f. Beauty, Inc. (NYSE:ELF) navigates through the cosmetics market, the company's financial health and stock performance offer a compelling picture. With a robust market cap of $9.93 billion, e.l.f. Beauty stands as a significant player in the industry. The company's impressive revenue growth over the last twelve months as of Q4 2024, at 76.89%, underscores its ability to expand its market share and increase sales efficiently.
One of the standout InvestingPro Data metrics for e.l.f. Beauty is its Gross Profit Margin, which at 70.72% demonstrates the company's substantial profitability relative to its revenue. This is a testament to e.l.f. Beauty's operational efficiency and pricing strategy, which allows it to retain a large portion of its sales as profit. Moreover, the company is trading at a P/E ratio of 76.86, which, when coupled with a PEG ratio of 0.81, suggests that it is trading at a low price relative to near-term earnings growth—a potential sign of value for investors.
Among the InvestingPro Tips, it's noteworthy that analysts predict the company will be profitable this year, which aligns with the positive financial data presented. Additionally, the company's stock price has experienced a high return over the past year with a 71.66% increase, indicating strong market confidence and investor interest in e.l.f. Beauty's growth trajectory.
For readers looking to dive deeper into the financials and future outlook of e.l.f. Beauty, there are additional InvestingPro Tips available on the platform, which can be accessed at https://www.investing.com/pro/ELF. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24. There are 19 additional InvestingPro Tips listed on InvestingPro that could provide further insights into e.l.f. Beauty's market position and investment potential.
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