E.l.f. Beauty, Inc. (NYSE:ELF) has reported that Kory Marchisotto, the company’s Senior Vice President and Chief Marketing Officer, has sold a significant number of shares in the company. According to the latest filings, Marchisotto sold a total of 19,197 shares at a price of $184.96 per share, amounting to approximately $3.7 million.
The transactions, which took place on June 5, 2024, were executed in two separate sales. The first sale involved 7,669 shares, while the second comprised of 12,528 shares. The total proceeds from these sales were $1,418,458 and $2,317,178, respectively. It was noted in the footnotes of the filing that the sales were made to satisfy tax or other government withholding obligations related to the vesting of Restricted Stock Units (RSUs).
Marchisotto’s remaining stake in the company following these transactions includes 122,978 shares, of which 52,971 are RSUs. These RSUs are set to vest in four equal annual installments, contingent upon continued service, and do not include Performance Stock Units that are expected to be reported upon the achievement of certain performance metrics.
This recent transaction provides investors with insight into the trading activities of top executives at e.l.f. Beauty (NYSE:ELF), a company known for its affordable and high-quality cosmetics and skincare products. As with all filings of this nature, investors often keep a close watch on insider transactions as they may offer hints about the company's financial health and future prospects.
In other recent news, e.l.f. Beauty has been under the spotlight with several analyst firms revising their price targets and maintaining positive ratings based on the company's growth potential. TD Cowen increased e.l.f. Beauty's price target to $235, reflecting the company's growth prospects in international markets and skincare segments. The company's impressive financial performance for the fourth quarter and fiscal year 2024, with net sales surpassing $1 billion, was a significant highlight.
DA Davidson added e.l.f. Beauty to its 'Best-of-Breed Bison' list, maintaining a Buy rating with 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. 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 are some of the recent developments that have caught the attention of investors.
InvestingPro Insights
In light of the recent insider sale at e.l.f. Beauty, Inc., current and prospective investors may find additional context from InvestingPro insights particularly valuable. The company boasts a strong gross profit margin, with the latest data showing a robust 70.72% for the last twelve months as of Q4 2024. This impressive margin underscores the company's ability to maintain cost-effective operations despite market fluctuations and is a testament to its operational efficiency.
Moreover, e.l.f. Beauty's market capitalization stands at $9.93 billion, reflecting its significant presence in the beauty industry. The company's P/E ratio, while high at 76.86, is complemented by a PEG ratio of 0.81, suggesting that its earnings growth rate is considered favorable when factored into the price. Such a PEG ratio might appeal to growth-oriented investors who are assessing the company's future earnings potential relative to its current earnings multiple.
Additionally, an InvestingPro Tip highlights that analysts predict the company will be profitable this year, which aligns with the reported 71.66% return on the stock price over the last year. This anticipated profitability, coupled with the company's solid financial performance, may offer reassurance to investors following the insider sale. For those interested in a deeper dive into e.l.f. Beauty's financial health and future outlook, there are 19 additional InvestingPro Tips available, which can provide a more comprehensive analysis. To access these insights, visit InvestingPro for e.l.f. Beauty and consider using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.