Traders Sell Ellie Mae (ELLI) on Strength (ELLI)
Traders sold shares of Ellie Mae Inc (NYSE:ELLI) on strength during trading hours on Wednesday. $20.14 million flowed into the stock on the tick-up and $45.25 million flowed out of the stock on the tick-down, for a money net flow of $25.11 million out of the stock. Of all equities tracked, Ellie Mae had the 0th highest net out-flow for the day. Ellie Mae traded up $0.65 for the day and closed at $94.77
Several equities analysts have recently issued reports on the company. Oppenheimer restated a “buy” rating and set a $110.00 target price on shares of Ellie Mae in a research report on Thursday, February 1st. Barclays upgraded Ellie Mae from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $100.00 to $114.00 in a research report on Tuesday, January 9th. Bank of America decreased their price objective on Ellie Mae from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Zacks Investment Research lowered Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Stephens reiterated a “hold” rating and issued a $92.00 price objective on shares of Ellie Mae in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.58.
The firm has a market cap of $3,249.65, a PE ratio of 86.94, a PEG ratio of 8.06 and a beta of 0.63.
In other Ellie Mae news, insider Sigmund Anderman sold 18,726 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $88.80, for a total transaction of $1,662,868.80. Following the completion of the transaction, the insider now owns 81,087 shares of the company’s stock, valued at approximately $7,200,525.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Corr sold 589 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $93.93, for a total value of $55,324.77. Following the transaction, the chief executive officer now directly owns 114,147 shares of the company’s stock, valued at approximately $10,721,827.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,669 shares of company stock valued at $7,747,079. Insiders own 3.39% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Brown Capital Management LLC boosted its position in Ellie Mae by 11.9% during the 4th quarter. Brown Capital Management LLC now owns 2,775,314 shares of the software maker’s stock worth $248,113,000 after acquiring an additional 295,702 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Ellie Mae by 5.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 678,721 shares of the software maker’s stock worth $55,743,000 after purchasing an additional 33,828 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Ellie Mae by 0.8% during the 3rd quarter. New York State Common Retirement Fund now owns 500,265 shares of the software maker’s stock worth $41,087,000 after purchasing an additional 3,892 shares in the last quarter. Meritage Group LP bought a new stake in shares of Ellie Mae during the 3rd quarter worth approximately $38,834,000. Finally, Standard Life Aberdeen plc raised its stake in shares of Ellie Mae by 5.4% during the 4th quarter. Standard Life Aberdeen plc now owns 470,081 shares of the software maker’s stock worth $42,028,000 after purchasing an additional 24,048 shares in the last quarter.
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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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