Traders Buy Ellie Mae (ELLI) on Weakness

Traders purchased shares of Ellie Mae Inc (NYSE:ELLI) on weakness during trading hours on Wednesday. $147.93 million flowed into the stock on the tick-up and $93.93 million flowed out of the stock on the tick-down, for a money net flow of $54.00 million into the stock. Of all stocks tracked, Ellie Mae had the 14th highest net in-flow for the day. Ellie Mae traded down ($0.05) for the day and closed at $98.90

A number of brokerages recently issued reports on ELLI. Zacks Investment Research raised Ellie Mae from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Wednesday, January 16th. JMP Securities dropped their target price on Ellie Mae from $125.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Bank of America dropped their target price on Ellie Mae from $115.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th. Morgan Stanley set a $77.00 target price on Ellie Mae and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, Zelman & Associates lowered Ellie Mae from a “hold” rating to a “sell” rating in a research report on Monday, December 24th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $86.43.

The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 96.02, a P/E/G ratio of 6.20 and a beta of 1.38.

In related news, Director Sigmund Anderman sold 44,800 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $82.49, for a total transaction of $3,695,552.00. Following the transaction, the director now directly owns 6,945 shares of the company’s stock, valued at approximately $572,893.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gates Cathleen Schreiner sold 2,549 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $64.00, for a total value of $163,136.00. Following the transaction, the executive vice president now directly owns 44,338 shares in the company, valued at $2,837,632. The disclosure for this sale can be found here. Insiders have sold a total of 76,190 shares of company stock worth $5,725,870 in the last ninety days. Insiders own 3.14% of the company’s stock.

Several hedge funds have recently bought and sold shares of ELLI. HMI Capital LLC increased its holdings in shares of Ellie Mae by 311.5% during the 4th quarter. HMI Capital LLC now owns 1,974,986 shares of the software maker’s stock worth $124,088,000 after acquiring an additional 1,495,069 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Ellie Mae by 26.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,562,234 shares of the software maker’s stock worth $160,986,000 after acquiring an additional 541,636 shares during the last quarter. FMR LLC increased its holdings in shares of Ellie Mae by 14.9% during the 2nd quarter. FMR LLC now owns 1,559,695 shares of the software maker’s stock worth $161,959,000 after acquiring an additional 202,708 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Ellie Mae by 6.9% during the 3rd quarter. Vanguard Group Inc now owns 3,104,393 shares of the software maker’s stock worth $294,203,000 after acquiring an additional 199,908 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ellie Mae by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,104,393 shares of the software maker’s stock worth $294,203,000 after acquiring an additional 199,908 shares during the last quarter.

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About Ellie Mae (NYSE:ELLI)

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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