American International Group Inc. lifted its stake in Ellie Mae, Inc. (NYSE:ELLI) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,704 shares of the software maker’s stock after buying an additional 1,698 shares during the period. American International Group Inc. owned approximately 0.07% of Ellie Mae worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of ELLI. Assetmark Inc. raised its position in Ellie Mae by 51.4% during the third quarter. Assetmark Inc. now owns 33,133 shares of the software maker’s stock valued at $2,721,000 after purchasing an additional 11,247 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Ellie Mae by 292.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 11,289 shares of the software maker’s stock valued at $928,000 after purchasing an additional 8,416 shares in the last quarter. Ameriprise Financial Inc. raised its position in Ellie Mae by 378.7% during the third quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after purchasing an additional 151,347 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ellie Mae during the third quarter valued at approximately $498,000. Finally, Quantbot Technologies LP acquired a new position in Ellie Mae during the third quarter valued at approximately $313,000.
Several research analysts have commented on ELLI shares. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “strong-buy” rating and set a $100.00 price objective for the company in a research report on Tuesday, October 31st. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Ellie Mae in a research report on Monday, August 14th. Barclays boosted their price objective on shares of Ellie Mae from $92.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. KeyCorp restated a “buy” rating and set a $116.00 price objective on shares of Ellie Mae in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Ellie Mae from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $110.71.
In related news, Director A Barr Dolan sold 4,666 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $87.59, for a total value of $408,694.94. Following the completion of the sale, the director now directly owns 9,053 shares in the company, valued at $792,952.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Corr sold 2,211 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $83.76, for a total value of $185,193.36. The disclosure for this sale can be found here. Insiders have sold 43,343 shares of company stock valued at $3,812,154 over the last quarter. Company insiders own 3.39% of the company’s stock.
Shares of Ellie Mae, Inc. (NYSE ELLI) traded up $1.01 during trading hours on Tuesday, hitting $89.72. 250,000 shares of the stock traded hands, compared to its average volume of 432,525. The firm has a market capitalization of $3,063.71, a P/E ratio of 70.40, a PEG ratio of 7.45 and a beta of 0.28. Ellie Mae, Inc. has a 52 week low of $79.71 and a 52 week high of $114.95.
Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.13. The company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $105.62 million. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. research analysts predict that Ellie Mae, Inc. will post 0.9 earnings per share for the current year.
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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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