Ellie Mae Inc (ELLI) is Whale Rock Capital Management LLC’s 3rd Largest Position
Whale Rock Capital Management LLC decreased its position in Ellie Mae Inc (NASDAQ:ELLI) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900,559 shares of the software maker’s stock after selling 93,942 shares during the quarter. Ellie Mae makes up approximately 6.9% of Whale Rock Capital Management LLC’s portfolio, making the stock its 3rd largest position. Whale Rock Capital Management LLC owned about 2.62% of Ellie Mae worth $98,980,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Ellie Mae by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,637,165 shares of the software maker’s stock valued at $289,851,000 after purchasing an additional 49,323 shares during the last quarter. BlackRock Inc. lifted its position in shares of Ellie Mae by 83,812.6% during the first quarter. BlackRock Inc. now owns 2,189,279 shares of the software maker’s stock valued at $219,519,000 after purchasing an additional 2,186,670 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Ellie Mae by 10.6% during the second quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock valued at $115,065,000 after purchasing an additional 100,103 shares in the last quarter. Park West Asset Management LLC lifted its position in shares of Ellie Mae by 3.3% during the first quarter. Park West Asset Management LLC now owns 931,868 shares of the software maker’s stock valued at $93,438,000 after purchasing an additional 29,913 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Ellie Mae by 1.2% during the second quarter. FMR LLC now owns 727,992 shares of the software maker’s stock valued at $80,014,000 after purchasing an additional 8,843 shares in the last quarter.
In other Ellie Mae news, EVP Gates Cathleen Schreiner sold 1,200 shares of Ellie Mae stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $84.58, for a total value of $101,496.00. Following the completion of the sale, the executive vice president now owns 45,049 shares of the company’s stock, valued at approximately $3,810,244.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director A Barr Dolan sold 6,000 shares of Ellie Mae stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $107.69, for a total transaction of $646,140.00. Following the completion of the sale, the director now directly owns 11,053 shares of the company’s stock, valued at approximately $1,190,297.57. The disclosure for this sale can be found here. Insiders sold 19,927 shares of company stock valued at $1,909,124 over the last quarter.
A number of brokerages have issued reports on ELLI. BidaskClub downgraded shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Ellie Mae in a research report on Monday, August 14th. Zacks Investment Research cut shares of Ellie Mae from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. KeyCorp reissued a “buy” rating and set a $116.00 target price on shares of Ellie Mae in a research report on Wednesday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $115.00 target price (up previously from $106.00) on shares of Ellie Mae in a research note on Thursday, July 20th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $112.95.
Ellie Mae Inc (NASDAQ:ELLI) traded down 0.2965% during midday trading on Wednesday, hitting $83.9204. 78,509 shares of the company were exchanged. Ellie Mae Inc has a 1-year low of $77.60 and a 1-year high of $114.95. The stock has a market capitalization of $2.89 billion and a price-to-earnings ratio of 55.6501. The stock has a 50 day moving average of $83.53 and a 200-day moving average of $99.65.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.16. The firm had revenue of $104.10 million for the quarter, compared to the consensus estimate of $110.69 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. Equities analysts expect that Ellie Mae Inc will post $1.49 earnings per share for the current year.
Ellie Mae announced that its board has approved a share repurchase plan on Tuesday, September 5th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the software maker to reacquire up to 8.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
Ellie Mae Profile
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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