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 the company’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $98.04, for a total transaction of $5,238,375.24. Following the transaction, the insider now owns 120,509 shares in the company, valued at $11,814,702.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
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 transaction of $2,035,867.67.
Shares of 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 stock has a 50 day moving average of $93.81 and a 200 day moving average of $92.60. The firm has a market capitalization of $3.33 billion and a price-to-earnings ratio of 85.80.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, February 9th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.08. The company earned $96.20 million during the quarter, compared to the consensus estimate of $88.73 million. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, analysts predict that Ellie Mae Inc will post $1.88 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 worth $122,525,000 after buying an additional 1,047,786 shares in the last quarter. Norges Bank acquired a new position in Ellie Mae during the fourth quarter worth about $39,642,000. Aberdeen Asset Management PLC UK acquired a new position in Ellie Mae during the fourth quarter worth about $19,861,000. Geneva Advisors LLC boosted its position in Ellie Mae by 681.7% in the third quarter. Geneva Advisors LLC now owns 235,772 shares of the company’s stock worth $24,827,000 after buying an additional 205,611 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Ellie Mae by 20.2% in the third quarter. BlackRock Fund Advisors now owns 918,644 shares of the company’s stock worth $96,733,000 after buying an additional 154,219 shares in the last quarter.
Several analysts have recently commented on ELLI shares. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Ellie Mae in a research report on Friday, February 10th. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, January 2nd. Wedbush started coverage on shares of Ellie Mae in a research report on Monday, March 13th. They issued a “neutral” rating and a $109.00 price target 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 started coverage on shares of Ellie Mae in a research report on Thursday, January 12th. They issued an “equal weight” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target 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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