Nationwide Fund Advisors raised its position in shares of Ellie Mae Inc (NASDAQ:ELLI) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 82,815 shares of the company’s stock after buying an additional 2,155 shares during the period. Nationwide Fund Advisors owned approximately 0.27% of Ellie Mae worth $7,590,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of ELLI. Creative Planning increased its position in Ellie Mae by 2,033.7% in the second quarter. Creative Planning now owns 5,505 shares of the company’s stock worth $505,000 after buying an additional 5,247 shares in the last quarter. Geneva Advisors LLC increased its position in Ellie Mae by 177.4% in the second quarter. Geneva Advisors LLC now owns 30,161 shares of the company’s stock worth $2,764,000 after buying an additional 19,290 shares in the last quarter. Suntrust Banks Inc. increased its position in Ellie Mae by 0.6% in the second quarter. Suntrust Banks Inc. now owns 16,050 shares of the company’s stock worth $1,470,000 after buying an additional 93 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Ellie Mae during the second quarter worth approximately $206,000. Finally, American Century Companies Inc. purchased a new position in Ellie Mae during the second quarter worth approximately $3,035,000.
Ellie Mae Inc (NASDAQ:ELLI) traded up 0.41% during midday trading on Friday, hitting $99.65. The stock had a trading volume of 209,733 shares. The firm has a market capitalization of $3.01 billion and a price-to-earnings ratio of 129.42. The firm has a 50-day moving average price of $96.94 and a 200-day moving average price of $89.63. Ellie Mae Inc has a 1-year low of $57.88 and a 1-year high of $102.63.
Ellie Mae (NASDAQ:ELLI) last posted its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $90.10 million for the quarter, compared to analyst estimates of $85.54 million. The firm’s revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities research analysts anticipate that Ellie Mae Inc will post $2.05 earnings per share for the current year.
Several equities analysts have commented on ELLI shares. Barclays PLC increased their price target on Ellie Mae from $97.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Needham & Company LLC increased their price target on Ellie Mae from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research downgraded Ellie Mae from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $100.00 price target on shares of Ellie Mae in a report on Wednesday, June 15th. Finally, JPMorgan Chase & Co. started coverage on Ellie Mae in a report on Friday, September 9th. They set an “overweight” rating and a $118.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $112.71.
In related news, insider Sigmund Anderman sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $96.81, for a total transaction of $5,324,550.00. Following the transaction, the insider now directly owns 157,874 shares of the company’s stock, valued at approximately $15,283,781.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Corr sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $98.84, for a total value of $345,940.00. Following the transaction, the chief executive officer now directly owns 85,822 shares in the company, valued at $8,482,646.48. The disclosure for this sale can be found here.
Ellie Mae Company Profile
Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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