In a recent move, Scott Milsten, Senior Vice President, General Counsel, Corporate Secretary & Chief People Officer at e.l.f. Beauty, Inc. (NYSE:ELF), sold a significant amount of company stock, totaling over $2.3 million. The transactions were executed on April 19, 2024, with individual sale prices ranging from $155.20 to $165.68.
The sales were conducted under a prearranged 10b5-1 trading plan, which allows company insiders to establish a predetermined plan for transacting in the company's securities. The plan was adopted by Milsten on November 28, 2022.
Milsten's sale of e.l.f. Beauty shares was spread across multiple transactions at various prices. The weighted average sale prices for the stock ranged from as low as $155.20 to a high of $165.68, reflecting the market's fluctuations on the day of the sale.
Following the sale, Milsten still holds a substantial number of shares in the company, which includes 63,714 restricted stock units. The remaining shares indicate a continued vested interest in the company's performance and growth.
Investors and followers of e.l.f. Beauty, Inc. often monitor insider sales as they can provide insights into the executive's view of the company's current valuation and future prospects. Milsten's role as a key executive at e.l.f. Beauty makes his market activities particularly noteworthy to current and potential shareholders.
e.l.f. Beauty, Inc., known for its affordable and high-quality cosmetics, has been a notable player in the beauty industry. The company's stock performance is closely watched by investors who have seen the beauty sector respond to various market trends and consumer preferences.
For those interested in the specifics of these transactions, detailed information on the number of shares sold at each price point within the reported range is available upon request from the Securities and Exchange Commission staff, e.l.f. Beauty, Inc., or a security holder of the issuer.
InvestingPro Insights
Following the recent insider selling by Scott Milsten at e.l.f. Beauty, Inc. (NYSE:ELF), investors might be curious about the company's financial health and market performance. According to real-time data from InvestingPro, e.l.f. Beauty boasts a robust revenue growth of 79.24% over the last twelve months as of Q3 2024, with an impressive gross profit margin of 70.33%. These figures suggest that the company is efficiently managing its cost of goods sold and generating significant revenue.
Despite the recent insider sale, the company's stock has experienced a 67.0% return over the past year, indicating strong market confidence. Furthermore, InvestingPro Tips suggest that analysts are optimistic about e.l.f. Beauty's future, expecting net income and sales growth in the current year. Moreover, four analysts have revised their earnings upwards for the upcoming period, reinforcing the positive outlook.
Investors considering e.l.f. Beauty as a potential addition to their portfolio can explore more in-depth analysis and metrics on the company's performance, including additional tips on InvestingPro. Currently, there are 21 additional InvestingPro Tips available for e.l.f. Beauty, which can be accessed at: https://www.investing.com/pro/ELF. For those looking to delve deeper, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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