CNH Partners LLC Buys Shares of 470,868 Ellie Mae Inc (NYSE:ELLI)
CNH Partners LLC bought a new position in Ellie Mae Inc (NYSE:ELLI) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 470,868 shares of the software maker’s stock, valued at approximately $46,470,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Ellie Mae by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,176 shares of the software maker’s stock valued at $1,817,000 after buying an additional 81,660 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Ellie Mae by 7.1% in the 4th quarter. Bank of Montreal Can now owns 2,271 shares of the software maker’s stock valued at $143,000 after buying an additional 150 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Ellie Mae by 19.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 6,151 shares of the software maker’s stock valued at $386,000 after buying an additional 1,000 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Ellie Mae by 43.1% in the 4th quarter. Rhumbline Advisers now owns 47,748 shares of the software maker’s stock valued at $3,000,000 after buying an additional 14,381 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Ellie Mae in the 4th quarter valued at $1,096,000.
Separately, Zacks Investment Research upgraded shares of Ellie Mae from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $86.43.
In related news, EVP Gates Cathleen Schreiner sold 639 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $98.65, for a total transaction of $63,037.35. Following the completion of the sale, the executive vice president now owns 41,572 shares in the company, valued at approximately $4,101,077.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigmund Anderman sold 265 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $98.80, for a total transaction of $26,182.00. Following the sale, the director now owns 5,193 shares of the company’s stock, valued at approximately $513,068.40. The disclosure for this sale can be found here. Insiders have sold a total of 7,889 shares of company stock valued at $779,532 in the last quarter. 3.14% of the stock is currently owned by corporate insiders.
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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