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Ellie Mae (NASDAQ:ELLI) traded down 3.7% during mid-day trading on Thursday following insider selling activity, Stock Ratings News reports. The company traded as low as $33.70 and last traded at $33.71, with a volume of 206,639 shares changing hands. The stock had previously closed at $35.02.

Specifically, EVP Limin Hu sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $34.74, for a total transaction of $347,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

ELLI has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $35.20.

The stock’s 50-day moving average is $30.8 and its 200-day moving average is $28.28. The company has a market cap of $956.7 million and a P/E ratio of 99.77.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. 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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