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Ellie Mae (NASDAQ:ELLI) CEO Sigmund Anderman sold 10,000 shares of Ellie Mae stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $34.45, for a total value of $344,500.00. Following the transaction, the chief executive officer now directly owns 176,250 shares in the company, valued at approximately $6,071,813. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.20.

Ellie Mae (NASDAQ:ELLI) traded down 2.76% during mid-day trading on Wednesday, hitting $34.85. The stock had a trading volume of 266,774 shares. Ellie Mae has a 1-year low of $22.46 and a 1-year high of $35.97. The stock has a 50-day moving average of $31.27 and a 200-day moving average of $28.5. The company has a market cap of $987.0 million and a P/E ratio of 102.11.

Ellie Mae (NASDAQ:ELLI) last announced its earnings results 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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