First Trust Advisors LP Acquires 18,467 Shares of Ellie Mae, Inc. (ELLI)
First Trust Advisors LP grew its holdings in Ellie Mae, Inc. (NYSE:ELLI) by 272.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,251 shares of the software maker’s stock after buying an additional 18,467 shares during the period. First Trust Advisors LP owned 0.07% of Ellie Mae worth $2,074,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew 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 period. Alliancebernstein L.P. boosted its stake in Ellie Mae by 10.6% during the second quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock worth $115,065,000 after buying an additional 100,103 shares during the period. FMR LLC boosted its stake in Ellie Mae by 1.2% during the second quarter. FMR LLC now owns 727,992 shares of the software maker’s stock worth $80,014,000 after buying an additional 8,843 shares during the period. State Street Corp boosted its stake in Ellie Mae by 6.6% during the second quarter. State Street Corp now owns 674,428 shares of the software maker’s stock worth $74,129,000 after buying an additional 41,894 shares during the period. Finally, Zevenbergen Capital Investments LLC boosted its stake in Ellie Mae by 11.5% during the second quarter. Zevenbergen Capital Investments LLC now owns 658,850 shares of the software maker’s stock worth $72,414,000 after buying an additional 67,740 shares during the period.
ELLI has been the subject of several recent research reports. BidaskClub lowered shares of Ellie Mae from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Ellie Mae in a research note on Monday, August 14th. Zacks Investment Research raised shares of Ellie Mae from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $90.00 target price on shares of Ellie Mae in a report on Tuesday, October 10th. Finally, Barclays PLC raised their target price on shares of Ellie Mae from $92.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Ellie Mae presently has an average rating of “Buy” and a consensus price target of $110.71.
Ellie Mae, Inc. (NYSE:ELLI) opened at $88.97 on Monday. The company has a market cap of $3,070.00, a price-to-earnings ratio of 70.61, a PEG ratio of 7.48 and a beta of 0.31. Ellie Mae, Inc. has a 1-year low of $77.60 and a 1-year high of $114.95.
Ellie Mae (NYSE:ELLI) last announced its earnings results on Thursday, October 26th. The software maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $105.62 million. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. research analysts predict that Ellie Mae, Inc. will post 0.9 EPS for the current year.
In other Ellie Mae news, Chairman Sigmund Anderman sold 7,920 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $87.38, for a total transaction of $692,049.60. Following the sale, the chairman now directly owns 98,321 shares in the company, valued at approximately $8,591,288.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Corr sold 2,210 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $83.71, for a total transaction of $184,999.10. Following the sale, the chief executive officer now owns 116,002 shares in the company, valued at $9,710,527.42. The disclosure for this sale can be found here. Insiders sold a total of 41,116 shares of company stock worth $3,602,614 over the last ninety days. Corporate insiders own 3.39% of the company’s stock.
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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.
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