Insider Selling: Ellie Mae Inc (ELLI) Insider Sells $5,238,375.24 in Stock
Ellie Mae Inc (NASDAQ:ELLI) insider Sigmund Anderman sold 53,431 shares of Ellie Mae stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $98.04, for a total value of $5,238,375.24. Following the completion of the transaction, the insider now owns 120,509 shares in the company, valued at approximately $11,814,702.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sigmund Anderman also recently made the following trade(s):
- On Friday, February 17th, Sigmund Anderman sold 21,823 shares of Ellie Mae stock. The shares were sold at an average price of $93.29, for a total value of $2,035,867.67.
Ellie Mae Inc (NASDAQ:ELLI) opened at 98.67 on Tuesday. Ellie Mae Inc has a 52-week low of $74.11 and a 52-week high of $109.99. The firm has a 50-day moving average price of $93.81 and a 200-day moving average price of $92.60. The company has a market cap of $3.33 billion and a PE ratio of 85.80.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings data on Thursday, February 9th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $88.73 million. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. On average, analysts forecast that Ellie Mae Inc will post $1.88 EPS for the current year.
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Hedge funds have recently modified their holdings of the company. Emerald Advisers Inc. PA bought a new stake in shares of Ellie Mae during the third quarter worth $13,158,000. New York State Common Retirement Fund boosted its stake in shares of Ellie Mae by 16.4% in the third quarter. New York State Common Retirement Fund now owns 485,745 shares of the company’s stock worth $51,149,000 after buying an additional 68,551 shares during the period. HMS Capital Management LLC bought a new stake in shares of Ellie Mae during the third quarter worth $1,475,000. Henderson Group PLC bought a new stake in shares of Ellie Mae during the third quarter worth $16,164,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Ellie Mae by 904.8% in the third quarter. Wells Fargo & Company MN now owns 1,163,583 shares of the company’s stock worth $122,525,000 after buying an additional 1,047,786 shares during the period.
ELLI has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Ellie Mae in a research report on Friday, February 10th. Zacks Investment Research cut Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, January 2nd. Wedbush initiated coverage on Ellie Mae in a research report on Monday, March 13th. They issued a “neutral” rating and a $109.00 target price on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Ellie Mae in a research report on Tuesday, December 20th. Finally, Morgan Stanley initiated coverage on Ellie Mae in a research report on Thursday, January 12th. They issued an “equal weight” rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $110.20.
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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