Roth Capital Lowers Ellie Mae Inc (NASDAQ:ELLI) to Neutral
Roth Capital lowered shares of Ellie Mae Inc (NASDAQ:ELLI) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat.com reports.
ELLI has been the subject of a number of other reports. Pacific Crest reissued an overweight rating and issued a $130.00 target price (up from $110.00) on shares of Ellie Mae in a research report on Sunday, April 23rd. Zacks Investment Research downgraded Ellie Mae from a buy rating to a hold rating in a research report on Friday, May 5th. Morgan Stanley reissued an equal weight rating and issued a $115.00 target price (up from $106.00) on shares of Ellie Mae in a research report on Thursday, July 20th. KeyCorp reissued a buy rating and issued a $130.00 target price on shares of Ellie Mae in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada decreased their target price on Ellie Mae from $111.00 to $96.00 and set a sector perform rating for the company in a research report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Ellie Mae presently has a consensus rating of Buy and a consensus price target of $116.54.
Shares of Ellie Mae (NASDAQ ELLI) traded down 0.92% on Friday, reaching $86.42. The company’s stock had a trading volume of 181,634 shares. The firm’s 50 day moving average is $109.15 and its 200-day moving average is $102.16. Ellie Mae has a 52-week low of $77.60 and a 52-week high of $114.95. The stock has a market cap of $2.97 billion and a P/E ratio of 57.31.
Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $104.10 million during the quarter, compared to the consensus estimate of $110.69 million. During the same period last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that Ellie Mae will post $1.91 EPS for the current year.
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In related news, CEO Jonathan Corr sold 2,211 shares of Ellie Mae stock in a transaction on Monday, May 8th. The stock was sold at an average price of $106.33, for a total transaction of $235,095.63. Following the completion of the sale, the chief executive officer now owns 114,615 shares of the company’s stock, valued at $12,187,012.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Blasing sold 414 shares of Ellie Mae stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $112.40, for a total value of $46,533.60. Following the sale, the director now directly owns 5,547 shares of the company’s stock, valued at approximately $623,482.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,516 shares of company stock valued at $7,122,641.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Ellie Mae by 83,812.6% in the first quarter. BlackRock Inc. now owns 2,189,279 shares of the software maker’s stock valued at $219,519,000 after buying an additional 2,186,670 shares in the last quarter. FMR LLC raised its stake in Ellie Mae by 295.0% in the first quarter. FMR LLC now owns 719,149 shares of the software maker’s stock valued at $72,109,000 after buying an additional 537,095 shares in the last quarter. Baillie Gifford & Co. raised its stake in Ellie Mae by 185.7% in the first quarter. Baillie Gifford & Co. now owns 517,544 shares of the software maker’s stock valued at $51,894,000 after buying an additional 336,420 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Ellie Mae during the first quarter valued at about $14,057,000. Finally, Vanguard Group Inc. raised its stake in Ellie Mae by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,587,842 shares of the software maker’s stock valued at $259,482,000 after buying an additional 127,005 shares in 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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