ValuEngine cut shares of Ellie Mae Inc (NASDAQ:ELLI) from a hold rating to a sell rating in a research report report published on Friday morning.

ELLI has been the topic of several other reports. Pacific Crest reaffirmed an overweight rating and issued a $130.00 target price (up from $110.00) on shares of Ellie Mae in a report on Sunday, April 23rd. Roth Capital cut Ellie Mae from a buy rating to a neutral rating in a report on Friday. Zacks Investment Research cut Ellie Mae from a buy rating to a hold rating in a report on Friday, May 5th. Morgan Stanley reaffirmed an equal weight rating and issued a $115.00 target price (up from $106.00) on shares of Ellie Mae in a report on Thursday, July 20th. Finally, KeyCorp reaffirmed a buy rating and issued a $130.00 target price on shares of Ellie Mae in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Ellie Mae presently has an average rating of Buy and an average target price of $116.54.

Ellie Mae (ELLI) opened at 87.22 on Friday. The firm has a 50-day moving average price of $109.15 and a 200-day moving average price of $102.16. The company has a market capitalization of $2.99 billion and a price-to-earnings ratio of 57.84. Ellie Mae has a 52 week low of $77.60 and a 52 week high of $114.95.

Ellie Mae (NASDAQ:ELLI) last issued its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. Ellie Mae had a return on equity of 5.72% and a net margin of 10.32%. The firm had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $110.69 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. Analysts anticipate that Ellie Mae will post $1.91 EPS for the current fiscal year.

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In other Ellie Mae news, Director Karen Blasing sold 414 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $112.40, for a total transaction of $46,533.60. Following the sale, the director now directly owns 5,547 shares of the company’s stock, valued at $623,482.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Corr sold 2,211 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $106.33, for a total value of $235,095.63. Following the sale, the chief executive officer now directly owns 114,615 shares in the company, valued at $12,187,012.95. The disclosure for this sale can be found here. Insiders have sold 65,516 shares of company stock worth $7,122,641 over the last three months.

Large investors have recently modified their holdings of the company. Aberdeen Asset Management PLC UK boosted its stake in shares of Ellie Mae by 17.1% in the first quarter. Aberdeen Asset Management PLC UK now owns 277,809 shares of the software maker’s stock valued at $27,858,000 after buying an additional 40,467 shares during the last quarter. Capital Fund Management S.A. boosted its stake in shares of Ellie Mae by 88.4% in the first quarter. Capital Fund Management S.A. now owns 31,987 shares of the software maker’s stock valued at $3,207,000 after buying an additional 15,010 shares during the last quarter. 1st Global Advisors Inc. boosted its stake in shares of Ellie Mae by 3.9% in the first quarter. 1st Global Advisors Inc. now owns 4,524 shares of the software maker’s stock valued at $454,000 after buying an additional 168 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Ellie Mae during the first quarter valued at $3,310,000. Finally, Guggenheim Capital LLC boosted its stake in shares of Ellie Mae by 14.3% in the fourth quarter. Guggenheim Capital LLC now owns 4,157 shares of the software maker’s stock valued at $348,000 after buying an additional 519 shares during the last quarter.

About Ellie Mae

Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.

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Analyst Recommendations for Ellie Mae (NASDAQ:ELLI)

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