Ellie Mae Inc (NASDAQ:ELLI) has been given a consensus recommendation of “Buy” by the sixteen analysts that are covering the firm. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $100.75.
ELLI has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Ellie Mae in a research note on Friday, February 10th. Wedbush initiated coverage on shares of Ellie Mae in a research note on Monday, March 13th. They set a “neutral” rating and a $109.00 target price for the company. Zacks Investment Research downgraded shares of Ellie Mae from a “buy” rating to a “hold” rating in a research note on Monday, January 2nd. Vetr upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $97.50 price target on the stock in a report on Tuesday, February 21st. Finally, Morgan Stanley began coverage on shares of Ellie Mae in a report on Thursday, January 12th. They set an “equal weight” rating and a $95.00 price target on the stock.
Shares of Ellie Mae (NASDAQ:ELLI) traded down 0.40% on Tuesday, reaching $108.32. The company had a trading volume of 303,147 shares. The company has a market capitalization of $3.66 billion and a PE ratio of 94.19. The company’s 50-day moving average is $101.00 and its 200-day moving average is $93.25. Ellie Mae has a one year low of $74.11 and a one year high of $110.45.
In other news, EVP Gates Cathleen Schreiner sold 1,350 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $97.18, for a total transaction of $131,193.00. Following the sale, the executive vice president now directly owns 53,946 shares in the company, valued at approximately $5,242,472.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Corr sold 2,732 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $88.61, for a total transaction of $242,082.52. Following the sale, the chief executive officer now owns 85,533 shares in the company, valued at $7,579,079.13. The disclosure for this sale can be found here. Insiders have sold a total of 156,062 shares of company stock worth $15,046,251 in the last quarter.
Several hedge funds have recently made changes to their positions in the stock. Cetera Advisor Networks LLC increased its stake in shares of Ellie Mae by 1.2% in the third quarter. Cetera Advisor Networks LLC now owns 3,200 shares of the software maker’s stock valued at $337,000 after buying an additional 38 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Ellie Mae by 9.2% in the third quarter. Advisor Group Inc. now owns 1,130 shares of the software maker’s stock valued at $119,000 after buying an additional 95 shares during the last quarter. Lebenthal Lisanti Capital Growth LLC increased its stake in shares of Ellie Mae by 4.6% in the third quarter. Lebenthal Lisanti Capital Growth LLC now owns 9,265 shares of the software maker’s stock valued at $976,000 after buying an additional 405 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Ellie Mae by 14.3% in the fourth quarter. Guggenheim Capital LLC now owns 4,157 shares of the software maker’s stock valued at $348,000 after buying an additional 519 shares during the last quarter. Finally, Cupps Capital Management LLC increased its stake in shares of Ellie Mae by 1.7% in the third quarter. Cupps Capital Management LLC now owns 35,092 shares of the software maker’s stock valued at $3,695,000 after buying an additional 592 shares during the last quarter.
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.
