Insider Selling: Ellie Mae Inc (ELLI) CEO Sells 2,211 Shares of Stock
Ellie Mae Inc (NASDAQ:ELLI) CEO Jonathan Corr sold 2,211 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.44, for a total value of $195,540.84. Following the sale, the chief executive officer now owns 114,902 shares of the company’s stock, valued at $10,161,932.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Jonathan Corr also recently made the following trade(s):
- On Friday, July 7th, Jonathan Corr sold 2,211 shares of Ellie Mae stock. The stock was sold at an average price of $108.08, for a total value of $238,964.88.
- On Wednesday, June 7th, Jonathan Corr sold 2,210 shares of Ellie Mae stock. The stock was sold at an average price of $112.41, for a total value of $248,426.10.
Ellie Mae Inc (NASDAQ:ELLI) traded down 1.63% during mid-day trading on Tuesday, reaching $87.00. The company had a trading volume of 575,553 shares. Ellie Mae Inc has a 12-month low of $77.60 and a 12-month high of $114.95. The firm has a 50-day moving average price of $106.67 and a 200 day moving average price of $101.91. The firm has a market capitalization of $2.99 billion and a price-to-earnings ratio of 57.69.
Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.16. The business had revenue of $104.10 million during the quarter, compared to the consensus estimate of $110.69 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Analysts expect that Ellie Mae Inc will post $1.49 EPS for the current year.
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Several equities research analysts have weighed in on ELLI shares. Zacks Investment Research upgraded Ellie Mae from a “sell” rating to a “hold” rating and set a $116.00 target price for the company in a research note on Tuesday, April 11th. Pacific Crest restated an “overweight” rating and set a $130.00 target price (up from $110.00) on shares of Ellie Mae in a research note on Sunday, April 23rd. Royal Bank Of Canada cut their target price on Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, April 24th. Bank of America Corporation initiated coverage on shares of Ellie Mae in a report on Monday, May 15th. They set a “buy” rating and a $130.00 price target for the company. Finally, KeyCorp reiterated a “buy” rating and set a $130.00 price target on shares of Ellie Mae in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Ellie Mae has an average rating of “Hold” and an average target price of $116.54.
Hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in 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 in the last quarter. Teachers Advisors LLC increased its stake in Ellie Mae by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 72,934 shares of the software maker’s stock valued at $6,103,000 after buying an additional 3,054 shares in the last quarter. Creative Planning increased its stake in Ellie Mae by 31.0% in the first quarter. Creative Planning now owns 2,989 shares of the software maker’s stock valued at $300,000 after buying an additional 707 shares in the last quarter. Merriman Wealth Management LLC increased its stake in Ellie Mae by 17.8% in the first quarter. Merriman Wealth Management LLC now owns 70,586 shares of the software maker’s stock valued at $7,078,000 after buying an additional 10,666 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Ellie Mae during the first quarter valued at $351,000.
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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