The Manufacturers Life Insurance Company boosted its stake in shares of Ellie Mae Inc (NASDAQ:ELLI) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,858 shares of the software maker’s stock after acquiring an additional 733 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Ellie Mae worth $2,843,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. State Street Corp grew its holdings in Ellie Mae by 6.6% during the 2nd quarter. State Street Corp now owns 674,428 shares of the software maker’s stock worth $74,129,000 after acquiring an additional 41,894 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in Ellie Mae during the 2nd quarter worth about $1,186,000. Calixto Global Investors LP grew its holdings in Ellie Mae by 3.3% during the 2nd quarter. Calixto Global Investors LP now owns 312,228 shares of the software maker’s stock worth $34,317,000 after acquiring an additional 9,887 shares during the last quarter. Stifel Financial Corp bought a new stake in Ellie Mae during the 2nd quarter worth about $270,000. Finally, Voya Investment Management LLC grew its holdings in Ellie Mae by 7.3% during the 2nd quarter. Voya Investment Management LLC now owns 402,771 shares of the software maker’s stock worth $44,268,000 after acquiring an additional 27,408 shares during the last quarter.

In related news, EVP Gates Cathleen Schreiner sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $84.58, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sigmund Anderman sold 12,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the sale, the insider now directly owns 98,321 shares of the company’s stock, valued at approximately $8,774,166.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,608 shares of company stock valued at $2,135,134.

Several research analysts have recently issued reports on ELLI shares. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Morgan Stanley reaffirmed 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. Roth Capital lowered shares of Ellie Mae from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. ValuEngine lowered shares of Ellie Mae from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price (down previously from $135.00) on shares of Ellie Mae in a research note on Sunday, July 30th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $110.71.

Ellie Mae Inc (NASDAQ:ELLI) opened at $86.99 on Friday.

Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.13. The company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $105.62 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS.

Ellie Mae announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 5th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the software maker to buy up to 8.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Ellie Mae Inc (ELLI) Shares Bought by The Manufacturers Life Insurance Company” was first reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/ellie-mae-inc-elli-shares-bought-by-the-manufacturers-life-insurance-company/1677772.html.

Ellie Mae Company 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.

Want to see what other hedge funds are holding ELLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellie Mae Inc (NASDAQ:ELLI).

Institutional Ownership by Quarter for Ellie Mae (NASDAQ:ELLI)

Receive News & Ratings for Ellie Mae Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.