Morgan Stanley began coverage on shares of Ellie Mae Inc (NASDAQ:ELLI) in a report published on Thursday morning. The firm issued an equal weight rating and a $95.00 price objective on the stock.

ELLI has been the subject of a number of other reports. Pacific Crest restated an overweight rating on shares of Ellie Mae in a research note on Saturday, January 7th. Zacks Investment Research downgraded Ellie Mae from a hold rating to a sell rating in a research note on Friday, October 14th. Royal Bank Of Canada downgraded Ellie Mae from an outperform rating to a sector perform rating and lowered their price objective for the stock from $114.00 to $90.00 in a research note on Thursday, November 17th. RBC Capital Markets downgraded Ellie Mae from an outperform rating to a sector perform rating and lowered their price objective for the stock from $114.00 to $90.00 in a research note on Thursday, November 17th. Finally, Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $120.00 price target (up previously from $110.00) on shares of Ellie Mae in a research report on Friday, October 21st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $107.30.

Shares of Ellie Mae (NASDAQ:ELLI) traded up 0.10% on Thursday, hitting $82.49. The stock had a trading volume of 749,760 shares. The firm has a market cap of $2.77 billion and a P/E ratio of 83.07. Ellie Mae has a 12-month low of $57.88 and a 12-month high of $109.99. The company’s 50-day moving average price is $83.51 and its 200 day moving average price is $93.82.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.13. The company had revenue of $100.38 million for the quarter, compared to the consensus estimate of $91.86 million. Ellie Mae’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Ellie Mae will post $2.20 earnings per share for the current fiscal year.

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In other news, VP Brian E. Brown sold 540 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $101.39, for a total value of $54,750.60. Following the completion of the sale, the vice president now owns 7,476 shares in the company, valued at $757,991.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gates Cathleen Schreiner sold 675 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $107.46, for a total value of $72,535.50. Following the completion of the sale, the executive vice president now owns 26,594 shares of the company’s stock, valued at approximately $2,857,791.24. The disclosure for this sale can be found here.

Several hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. purchased a new stake in shares of Ellie Mae during the second quarter valued at $174,000. RS Investment Management Co. LLC purchased a new stake in shares of Ellie Mae during the second quarter valued at $18,175,000. Insight Capital Research & Management Inc. purchased a new stake in shares of Ellie Mae during the second quarter valued at $2,314,000. Redwood Investments LLC raised its stake in shares of Ellie Mae by 60.3% in the second quarter. Redwood Investments LLC now owns 52,333 shares of the company’s stock valued at $4,796,000 after buying an additional 19,677 shares during the period. Finally, ClariVest Asset Management LLC raised its stake in shares of Ellie Mae by 15.4% in the second quarter. ClariVest Asset Management LLC now owns 27,035 shares of the company’s stock valued at $2,478,000 after buying an additional 3,600 shares during the period.

About Ellie Mae

Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.

5 Day Chart for NASDAQ:ELLI

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