Quantbot Technologies LP Buys Shares of 10,622 Ellie Mae Inc (ELLI)

Quantbot Technologies LP bought a new stake in shares of Ellie Mae Inc (NYSE:ELLI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,622 shares of the software maker’s stock, valued at approximately $1,006,000.

A number of other hedge funds have also added to or reduced their stakes in ELLI. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Ellie Mae in the 3rd quarter valued at approximately $223,000. Alps Advisors Inc. purchased a new stake in shares of Ellie Mae in the 2nd quarter valued at approximately $286,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Ellie Mae in the 3rd quarter valued at approximately $342,000. Polen Capital Management LLC purchased a new stake in shares of Ellie Mae in the 3rd quarter valued at approximately $344,000. Finally, Palo Capital Inc. purchased a new stake in shares of Ellie Mae in the 3rd quarter valued at approximately $379,000.

In other news, VP Popi Heron sold 731 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $64.83, for a total transaction of $47,390.73. Following the transaction, the vice president now owns 6,128 shares in the company, valued at approximately $397,278.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Corr sold 589 shares of the stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $83.87, for a total transaction of $49,399.43. Following the transaction, the chief executive officer now owns 109,572 shares in the company, valued at approximately $9,189,803.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,209 shares of company stock worth $186,408. Company insiders own 3.14% of the company’s stock.

ELLI has been the subject of several research analyst reports. TheStreet downgraded shares of Ellie Mae from a “b-” rating to a “c+” rating in a research report on Wednesday, September 26th. Royal Bank of Canada reduced their price target on shares of Ellie Mae to $109.00 and set an “outperform” rating for the company in a research report on Friday, October 5th. They noted that the move was a valuation call. Roth Capital upgraded shares of Ellie Mae from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, October 10th. Barclays restated a “buy” rating and issued a $102.00 price target on shares of Ellie Mae in a research report on Tuesday, October 16th. Finally, ValuEngine downgraded shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $85.20.

Ellie Mae stock opened at $68.00 on Tuesday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 66.02, a P/E/G ratio of 5.21 and a beta of 1.32. Ellie Mae Inc has a twelve month low of $61.51 and a twelve month high of $116.90.

Ellie Mae (NYSE:ELLI) last released its quarterly earnings data on Thursday, October 25th. The software maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.10. The firm had revenue of $122.97 million for the quarter, compared to analyst estimates of $128.22 million. Ellie Mae had a net margin of 7.11% and a return on equity of 4.78%. Equities research analysts expect that Ellie Mae Inc will post 0.93 earnings per share for the current year.

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Ellie Mae Company Profile

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines 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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Institutional Ownership by Quarter for Ellie Mae (NYSE:ELLI)

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