Insider Selling: Ellie Mae Inc (ELLI) CEO Sells 2,210 Shares of Stock
Ellie Mae Inc (NASDAQ:ELLI) CEO Jonathan Corr sold 2,210 shares of Ellie Mae stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $83.71, for a total transaction of $184,999.10. Following the transaction, the chief executive officer now directly owns 116,002 shares in the company, valued at $9,710,527.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Jonathan Corr also recently made the following trade(s):
- On Monday, August 7th, Jonathan Corr sold 2,211 shares of Ellie Mae stock. The stock was sold at an average price of $88.44, for a total transaction of $195,540.84.
- 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 transaction of $238,964.88.
Shares of Ellie Mae Inc (NASDAQ:ELLI) traded down 1.20% on Friday, reaching $83.23. 333,514 shares of the company’s stock were exchanged. Ellie Mae Inc has a one year low of $77.60 and a one year high of $114.95. The company’s 50 day moving average is $89.34 and its 200-day moving average is $101.30. The stock has a market cap of $2.86 billion and a price-to-earnings ratio of 55.19.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.16. The company had revenue of $104.10 million during the quarter, compared to the consensus estimate of $110.69 million. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. Ellie Mae’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, analysts anticipate that Ellie Mae Inc will post $1.49 EPS for the current year.
Ellie Mae announced that its board has authorized a share repurchase program on Tuesday, September 5th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the software maker to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its stake in Ellie Mae by 13.2% in the second quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock worth $112,000 after purchasing an additional 118 shares during the period. Nisa Investment Advisors LLC increased its stake in Ellie Mae by 8.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock worth $135,000 after purchasing an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ellie Mae by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock worth $147,000 after purchasing an additional 119 shares during the period. Bank of Montreal Can increased its stake in Ellie Mae by 1.4% in the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock worth $200,000 after purchasing an additional 25 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Ellie Mae in the first quarter worth $214,000.
Several research analysts have commented on ELLI shares. BidaskClub downgraded shares of Ellie Mae from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target (down from $135.00) on shares of Ellie Mae in a research note on Sunday, July 30th. J P Morgan Chase & Co reissued a “buy” rating on shares of Ellie Mae in a research note on Friday, September 1st. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Monday, July 3rd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of Ellie Mae in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $116.54.
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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