Ellie Mae (ELLI) Earns Sell Rating from Analysts at Compass Point

Equities research analysts at Compass Point initiated coverage on shares of Ellie Mae (NYSE:ELLI) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating and a $65.00 price target on the software maker’s stock. Compass Point’s price target would indicate a potential downside of 28.23% from the company’s current price.

Several other brokerages have also recently weighed in on ELLI. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “strong-buy” rating and set a $100.00 price target for the company in a research report on Tuesday, October 31st. Barclays upped their price target on shares of Ellie Mae from $92.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating on shares of Ellie Mae in a research report on Sunday, October 29th. KeyCorp reaffirmed a “buy” rating and issued a $116.00 price target on shares of Ellie Mae in a research report on Wednesday, October 4th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $101.00 price target on shares of Ellie Mae in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Ellie Mae presently has a consensus rating of “Buy” and a consensus price target of $107.42.

Shares of Ellie Mae (NYSE ELLI) traded up $1.17 on Wednesday, hitting $90.57. 301,200 shares of the stock traded hands, compared to its average volume of 305,750. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $114.95. The stock has a market cap of $3,050.00, a PE ratio of 59.98, a PEG ratio of 11.66 and a beta of 0.29.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.13. Ellie Mae had a net margin of 13.45% and a return on equity of 6.39%. The firm had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $105.62 million. During the same quarter in the prior year, the company earned $0.60 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. analysts anticipate that Ellie Mae will post 0.9 earnings per share for the current year.

In other Ellie Mae news, insider Sigmund Anderman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the transaction, the insider now owns 98,321 shares in the company, valued at approximately $8,774,166.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Corr sold 2,211 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $83.76, for a total transaction of $185,193.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,224 shares of company stock valued at $4,077,436. 3.39% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its stake in shares of Ellie Mae by 26.8% in the third quarter. Nationwide Fund Advisors now owns 242,728 shares of the software maker’s stock worth $19,935,000 after acquiring an additional 51,253 shares during the period. Merriman Wealth Management LLC increased its stake in shares of Ellie Mae by 14.2% in the third quarter. Merriman Wealth Management LLC now owns 80,586 shares of the software maker’s stock worth $6,619,000 after acquiring an additional 10,000 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Ellie Mae by 378.7% in the third quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock worth $15,712,000 after acquiring an additional 151,347 shares during the period. Meritage Group LP acquired a new stake in shares of Ellie Mae in the third quarter worth $38,834,000. Finally, Trexquant Investment LP increased its stake in shares of Ellie Mae by 193.6% in the third quarter. Trexquant Investment LP now owns 7,017 shares of the software maker’s stock worth $576,000 after acquiring an additional 4,627 shares during the period.

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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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