Ellie Mae Inc (NYSE:ELLI) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 2,066,094 shares, a decline of 43.4% from the February 15th total of 3,649,945 shares. Approximately 6.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,674,648 shares, the short-interest ratio is presently 1.2 days.

Shares of NYSE ELLI opened at $98.71 on Wednesday. Ellie Mae has a 1-year low of $58.49 and a 1-year high of $116.90. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 95.83, a P/E/G ratio of 7.02 and a beta of 1.41.

Ellie Mae (NYSE:ELLI) last announced its earnings results on Thursday, February 14th. The software maker reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). Ellie Mae had a return on equity of 4.17% and a net margin of 5.02%. The company had revenue of $116.05 million during the quarter, compared to the consensus estimate of $113.97 million. On average, sell-side analysts anticipate that Ellie Mae will post 0.95 EPS for the current year.

In other Ellie Mae news, CEO Jonathan Corr sold 2,306 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $99.07, for a total value of $228,455.42. Following the transaction, the chief executive officer now directly owns 143,096 shares in the company, valued at $14,176,520.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Brian E. Brown sold 700 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.51, for a total transaction of $69,657.00. Following the completion of the transaction, the executive vice president now owns 39,242 shares in the company, valued at $3,904,971.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,477 shares of company stock worth $8,722,859. Company insiders own 3.14% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Interstate Bank bought a new position in shares of Ellie Mae in the fourth quarter worth about $28,000. We Are One Seven LLC bought a new stake in shares of Ellie Mae during the fourth quarter worth approximately $75,000. Advisor Group Inc. raised its stake in shares of Ellie Mae by 32.6% during the fourth quarter. Advisor Group Inc. now owns 2,108 shares of the software maker’s stock worth $132,000 after buying an additional 518 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Ellie Mae by 7.1% during the fourth quarter. Bank of Montreal Can now owns 2,271 shares of the software maker’s stock worth $143,000 after buying an additional 150 shares during the last quarter. Finally, Ffcm LLC raised its stake in shares of Ellie Mae by 328.9% during the fourth quarter. Ffcm LLC now owns 2,329 shares of the software maker’s stock worth $146,000 after buying an additional 1,786 shares during the last quarter.

ELLI has been the topic of a number of recent analyst reports. JMP Securities restated a “buy” rating and issued a $99.00 price target on shares of Ellie Mae in a research report on Monday, February 11th. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. Susquehanna Bancshares initiated coverage on shares of Ellie Mae in a research report on Thursday, November 29th. They issued a “negative” rating and a $53.00 price target on the stock. ValuEngine upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Finally, William Blair lowered shares of Ellie Mae from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 14th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Ellie Mae presently has a consensus rating of “Hold” and an average target price of $86.43.

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About Ellie Mae

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. It provides Encompass, an enterprise solution that engages in running the business of originating mortgages, including marketing and lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.

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