Royal Bank Of Canada downgraded shares of Ellie Mae Inc (NASDAQ:ELLI) from an outperform rating to a sector perform rating in a research report sent to investors on Thursday. Royal Bank Of Canada currently has $90.00 target price on the stock, down from their previous target price of $114.00.

A number of other research firms also recently commented on ELLI. Barclays PLC boosted their target price on shares of Ellie Mae from $97.00 to $110.00 and gave the stock an equal weight rating in a report on Friday, July 29th. Needham & Company LLC boosted their target price on shares of Ellie Mae from $110.00 to $125.00 and gave the stock a buy rating in a report on Friday, July 29th. Zacks Investment Research raised shares of Ellie Mae from a sell rating to a hold rating in a research report on Thursday, November 3rd. JPMorgan Chase & Co. started coverage on shares of Ellie Mae in a research report on Friday, September 9th. They issued an overweight rating and a $118.00 target price on the stock. Finally, JMP Securities lifted their target price on shares of Ellie Mae from $94.00 to $107.00 and gave the stock a market outperform rating in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ellie Mae presently has an average rating of Buy and an average target price of $110.78.

Analyst Recommendations for Ellie Mae (NASDAQ:ELLI)

Shares of Ellie Mae (NASDAQ:ELLI) traded down 1.64% during mid-day trading on Thursday, reaching $80.41. 357,735 shares of the company were exchanged. The company’s 50 day moving average price is $100.12 and its 200 day moving average price is $93.45. Ellie Mae has a 12 month low of $57.88 and a 12 month high of $109.99. The firm has a market capitalization of $2.70 billion and a PE ratio of 80.98.

Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, October 27th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The business earned $100.38 million during the quarter, compared to the consensus estimate of $91.86 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. Equities analysts anticipate that Ellie Mae will post $2.19 earnings per share for the current year.

In related news, VP Brian E. Brown sold 540 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $101.39, for a total transaction of $54,750.60. Following the completion of the transaction, the vice president now directly owns 7,476 shares in the company, valued at approximately $757,991.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Limin Hu sold 5,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $95.63, for a total transaction of $478,150.00. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in ELLI. Wells Fargo & Company MN boosted its position in Ellie Mae by 904.8% in the third quarter. Wells Fargo & Company MN now owns 1,163,583 shares of the company’s stock valued at $122,525,000 after buying an additional 1,047,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Ellie Mae by 12,373.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,007,822 shares of the company’s stock valued at $106,124,000 after buying an additional 999,742 shares during the period. Whale Rock Capital Management LLC raised its stake in shares of Ellie Mae by 38.5% in the second quarter. Whale Rock Capital Management LLC now owns 1,120,745 shares of the company’s stock valued at $102,716,000 after buying an additional 311,350 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Ellie Mae by 127.7% in the second quarter. Eagle Asset Management Inc. now owns 553,475 shares of the company’s stock valued at $50,725,000 after buying an additional 310,427 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of Ellie Mae by 48.5% in the second quarter. Lord Abbett & CO. LLC now owns 808,775 shares of the company’s stock valued at $74,124,000 after buying an additional 263,998 shares during the period.

About Ellie Mae

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.

5 Day Chart for NASDAQ:ELLI

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