Insider Selling: Jonathan Corr Sells 28,000 Shares of Ellie Mae Stock (ELLI)
Ellie Mae (NASDAQ:ELLI) COO Jonathan Corr unloaded 28,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $33.78, for a total value of $945,840.00. Following the transaction, the chief operating officer now directly owns 89,625 shares in the company, valued at approximately $3,027,533. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Analysts at Dougherty & Co upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $35.20.
Shares of Ellie Mae (NASDAQ:ELLI) traded up 2.00% on Friday, hitting $34.16. The stock had a trading volume of 332,501 shares. Ellie Mae has a 1-year low of $22.46 and a 1-year high of $34.98. The stock has a 50-day moving average of $30.22 and a 200-day moving average of $28.03. The company has a market cap of $965.9 million and a P/E ratio of 95.41.
Ellie Mae (NASDAQ:ELLI) last announced its earnings results on Thursday, July 31st. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.10. The company had revenue of $39.98 million for the quarter, compared to the consensus estimate of $36.39 million. During the same quarter last year, the company posted $0.29 earnings per share. Ellie Mae’s revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Ellie Mae will post $1.00 earnings per share for the current fiscal year.
Ellie Mae, Inc is a provider of on-demand automation solutions for the mortgage industry. The Company offers an end-to-end solution, delivered using a software-as-a-service model that serves as the core operating system for mortgage originators and spans customer relationship management, loan origination and business management.
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