Ellie Mae Inc (ELLI) Stake Lowered by D.A. Davidson & CO.
D.A. Davidson & CO. lowered its holdings in Ellie Mae Inc (NASDAQ:ELLI) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,441 shares of the software maker’s stock after selling 17 shares during the period. D.A. Davidson & CO.’s holdings in Ellie Mae were worth $158,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Artisan Partners Limited Partnership grew its position in shares of Ellie Mae by 0.9% in the second quarter. Artisan Partners Limited Partnership now owns 425,481 shares of the software maker’s stock valued at $46,765,000 after purchasing an additional 3,890 shares during the period. Amalgamated Bank grew its position in shares of Ellie Mae by 8.4% in the second quarter. Amalgamated Bank now owns 4,354 shares of the software maker’s stock valued at $479,000 after purchasing an additional 336 shares during the period. Nationwide Fund Advisors grew its position in shares of Ellie Mae by 18.5% in the second quarter. Nationwide Fund Advisors now owns 191,475 shares of the software maker’s stock valued at $21,045,000 after purchasing an additional 29,937 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Ellie Mae in the second quarter valued at $4,392,000. Finally, TIAA CREF Investment Management LLC grew its position in shares of Ellie Mae by 1.6% in the second quarter. TIAA CREF Investment Management LLC now owns 132,795 shares of the software maker’s stock valued at $14,595,000 after purchasing an additional 2,070 shares during the period.
In related news, EVP Gates Cathleen Schreiner sold 1,200 shares of the stock in a transaction on Wednesday, September 6th. The stock was 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 directly owns 45,049 shares in the company, valued at $3,810,244.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A Barr Dolan sold 6,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $107.69, for a total value of $646,140.00. Following the sale, the director now owns 11,053 shares of the company’s stock, valued at $1,190,297.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,716 shares of company stock valued at $1,670,159.
ELLI has been the subject of a number of recent analyst reports. BidaskClub downgraded Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Ellie Mae in a research report on Monday, August 14th. Zacks Investment Research downgraded Ellie Mae from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. KeyCorp reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Ellie Mae in a research report on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $115.00 price objective (up previously from $106.00) on shares of Ellie Mae in a research report on Thursday, July 20th. Eight investment analysts have rated the stock with a hold rating and eight have given 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.
Shares of Ellie Mae Inc (ELLI) opened at 83.72 on Friday. The firm’s 50-day moving average price is $83.55 and its 200-day moving average price is $99.32. Ellie Mae Inc has a 52-week low of $77.60 and a 52-week high of $114.95. The stock has a market cap of $2.88 billion and a P/E ratio of 55.52.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data 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 10.74% and a net margin of 18.08%. The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $110.69 million. During the same period last year, the company earned $0.64 earnings per share. Ellie Mae’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts forecast that Ellie Mae Inc will post $1.49 earnings per share for the current fiscal year.
Ellie Mae declared that its board has approved a stock buyback program on Tuesday, September 5th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is 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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