Ellie Mae Inc (ELLI) CEO Sells $185,193.36 in Stock
Ellie Mae Inc (NASDAQ:ELLI) CEO Jonathan Corr sold 2,211 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $83.76, for a total transaction of $185,193.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Jonathan Corr also recently made the following trade(s):
- On Thursday, September 7th, Jonathan Corr sold 2,210 shares of Ellie Mae stock. The stock was sold at an average price of $83.71, for a total transaction of $184,999.10.
- 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.
Ellie Mae Inc (NASDAQ ELLI) traded up 0.21% during mid-day trading on Wednesday, reaching $83.97. The company’s stock had a trading volume of 512,577 shares. The company has a market cap of $2.89 billion and a price-to-earnings ratio of 55.68. The stock’s 50 day moving average is $83.71 and its 200 day moving average is $99.15. Ellie Mae Inc has a 12 month low of $77.60 and a 12 month high of $114.95.
Ellie Mae (NASDAQ:ELLI) last issued its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The firm had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $110.69 million. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that Ellie Mae Inc will post $1.49 EPS for the current year.
Ellie Mae announced that its board has approved a share buyback program on Tuesday, September 5th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have commented on ELLI shares. BidaskClub cut shares of Ellie Mae from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target (down from $135.00) on shares of Ellie Mae in a research report on Sunday, July 30th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Ellie Mae in a research report on Friday, September 1st. Zacks Investment Research upgraded 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 report on Monday, July 3rd. Finally, KeyCorp reiterated a “buy” rating and issued a $130.00 price target on shares of Ellie Mae in a research report on Wednesday, June 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $112.41.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC acquired a new stake in shares of Ellie Mae during the second quarter worth about $319,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ellie Mae during the second quarter worth about $1,461,000. Teachers Advisors LLC raised its position in shares of Ellie Mae by 2.1% during the first quarter. Teachers Advisors LLC now owns 74,482 shares of the software maker’s stock worth $7,468,000 after purchasing an additional 1,548 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ellie Mae during the first quarter worth about $6,858,000. Finally, Jane Street Group LLC acquired a new stake in shares of Ellie Mae during the first quarter worth about $214,000.
Ellie Mae Company Profile
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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