Geneva Advisors LLC Acquires 346 Shares of Ellie Mae Inc (ELLI)
Geneva Advisors LLC raised its stake in Ellie Mae Inc (NASDAQ:ELLI) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,902 shares of the software maker’s stock after buying an additional 346 shares during the period. Geneva Advisors LLC’s holdings in Ellie Mae were worth $1,418,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in Ellie Mae by 83,812.6% in the first quarter. BlackRock Inc. now owns 2,189,279 shares of the software maker’s stock valued at $219,519,000 after buying an additional 2,186,670 shares in the last quarter. FMR LLC increased its stake in Ellie Mae by 295.0% in the first quarter. FMR LLC now owns 719,149 shares of the software maker’s stock valued at $72,109,000 after buying an additional 537,095 shares in the last quarter. Baillie Gifford & Co. increased its stake in Ellie Mae by 185.7% in the first quarter. Baillie Gifford & Co. now owns 517,544 shares of the software maker’s stock valued at $51,894,000 after buying an additional 336,420 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Ellie Mae during the first quarter valued at approximately $14,057,000. Finally, Vanguard Group Inc. increased its stake in Ellie Mae by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,587,842 shares of the software maker’s stock valued at $259,482,000 after buying an additional 127,005 shares in the last quarter.
Shares of Ellie Mae Inc (NASDAQ:ELLI) opened at 81.29 on Friday. Ellie Mae Inc has a 12-month low of $77.60 and a 12-month high of $114.95. The company has a market capitalization of $2.79 billion and a P/E ratio of 53.91. The company’s 50 day moving average is $95.68 and its 200 day moving average is $101.83.
Ellie Mae (NASDAQ:ELLI) last released its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.16. The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $110.69 million. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. Ellie Mae’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Analysts expect that Ellie Mae Inc will post $1.49 earnings per share for the current fiscal year.
Several analysts have commented on ELLI shares. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Monday, July 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $115.00 target price (up from $106.00) on shares of Ellie Mae in a research report on Thursday, July 20th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price (down from $135.00) on shares of Ellie Mae in a research report on Sunday, July 30th. Bank of America Corporation started coverage on shares of Ellie Mae in a research report on Monday, May 15th. They issued a “buy” rating and a $130.00 target price for the company. Finally, KeyCorp reissued a “buy” rating and issued a $130.00 target price on shares of Ellie Mae in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $116.54.
In related news, CEO Jonathan Corr sold 2,210 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $112.41, for a total value of $248,426.10. Following the completion of the sale, the chief executive officer now directly owns 116,002 shares of the company’s stock, valued at approximately $13,039,784.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sigmund Anderman sold 12,253 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $111.31, for a total value of $1,363,881.43. Following the completion of the sale, the insider now directly owns 105,167 shares of the company’s stock, valued at $11,706,138.77. The disclosure for this sale can be found here. Insiders sold a total of 57,167 shares of company stock valued at $6,058,866 over the last three months.
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.
Want to see what other hedge funds are holding ELLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellie Mae Inc (NASDAQ:ELLI).
Receive News & Stock Ratings for Ellie Mae Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae Inc and related stocks with our FREE daily email newsletter.