e.l.f. Beauty, Inc. (NYSE:) CEO Tarang Amin has recently sold a significant portion of his stock in the company, a move that caught the attention of investors and market watchers alike. On April 18, 2024, Amin sold 74,451 shares at a price of $166.4 per share, totaling over $12 million.
This sale comes shortly after the company’s Compensation Committee certified the achievement of performance-based conditions for restricted stock units (PSUs) initially granted in June 2021. As a result, on April 17, Amin acquired 137,820 shares at no cost as part of the performance-based incentive plan. The shares sold were stated to satisfy tax or other government withholding obligations associated with the vesting of the PSUs.
Following these transactions, Amin’s direct ownership in e.l.f. Beauty stands at 316,161 shares, which includes 127,140 restricted stock units. Additionally, indirect holdings through family trusts and a grantor retained annuity trust (GRAT) account for another 536,239 shares.
These moves by the CEO of e.l.f. Beauty provide a glimpse into the executive’s stake in the company and are an essential piece of information for shareholders tracking insider activity. As the market processes this information, investors will be watching closely to see how these transactions might influence the company’s stock performance in the days and weeks to come.
InvestingPro Insights
e.l.f. Beauty’s CEO stock sale comes at a time when the company is experiencing robust financial growth. According to InvestingPro data, e.l.f. Beauty boasts a significant revenue growth rate of 79.24% over the last twelve months as of Q3 2024, underlining the company’s expanding market presence. The gross profit margin stands impressively at 70.33%, reflecting efficient operations and a strong hold over cost management.
InvestingPro Tips suggest that e.l.f. Beauty is expected to continue this positive trajectory, with net income projected to grow this year and analysts anticipating sales growth in the current year. Furthermore, with 4 analysts having revised their earnings upwards for the upcoming period, there appears to be a consensus on the company’s potential for continued financial success. These metrics are particularly relevant given the CEO’s recent stock transactions and may provide additional context for investors considering the company’s future prospects.
For those interested in a deeper dive into e.l.f. Beauty’s financials and future outlook, InvestingPro offers a comprehensive list of tips, including insights into the company’s valuation multiples and profitability forecasts. With an additional 15 tips available on InvestingPro, savvy investors can use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to valuable information that could inform their investment decisions.
Investors tracking the stock’s performance will note that the price has experienced a large uptick over the last six months, with a return of 59.96%, and an impressive 80.06% return over the last year. This suggests a strong market confidence in e.l.f. Beauty, further supported by the company’s solid financial fundamentals.
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