Ellie Mae Inc (NASDAQ:ELLI)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Friday.
Other equities analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Ellie Mae in a report on Tuesday, December 20th. Morgan Stanley started coverage on Ellie Mae in a research report on Thursday, January 12th. They issued an “equal weight” rating and a $95.00 price target on the stock. Zacks Investment Research upgraded Ellie Mae from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. RBC Capital Markets lowered Ellie Mae from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $114.00 to $90.00 in a research report on Thursday, November 17th. Finally, Royal Bank Of Canada lowered Ellie Mae from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $114.00 to $90.00 in a research report on Thursday, November 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ellie Mae has a consensus rating of “Buy” and a consensus price target of $108.30.
Ellie Mae (NASDAQ:ELLI) opened at 90.18 on Friday. The firm’s 50-day moving average price is $84.85 and its 200-day moving average price is $92.63. The company has a market cap of $3.03 billion and a PE ratio of 90.82. Ellie Mae has a one year low of $65.67 and a one year high of $109.99.
Ellie Mae (NASDAQ:ELLI) last issued its earnings results on Thursday, February 9th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm earned $96.20 million during the quarter, compared to analyst estimates of $88.73 million. During the same period in the previous year, the company earned $0.44 EPS. Ellie Mae’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, equities research analysts forecast that Ellie Mae will post $2.20 earnings per share for the current fiscal year.
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In related news, CFO Edgar Luce sold 1,650 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $84.53, for a total transaction of $139,474.50. Following the completion of the sale, the chief financial officer now directly owns 44,889 shares of the company’s stock, valued at $3,794,467.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Barr Dolan sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $80.65, for a total value of $403,250.00. Following the sale, the director now directly owns 9,368 shares of the company’s stock, valued at $755,529.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,133 shares of company stock valued at $2,523,487.
Hedge funds have recently modified their holdings of the stock. Emerald Advisers Inc. PA acquired a new stake in shares of Ellie Mae during the third quarter worth approximately $13,158,000. New York State Common Retirement Fund increased its stake in shares of Ellie Mae by 16.4% in the third quarter. New York State Common Retirement Fund now owns 485,745 shares of the company’s stock worth $51,149,000 after buying an additional 68,551 shares during the last quarter. HMS Capital Management LLC acquired a new stake in shares of Ellie Mae during the third quarter worth approximately $1,475,000. Henderson Group PLC acquired a new stake in shares of Ellie Mae during the third quarter worth approximately $16,164,000. Finally, BlackRock Investment Management LLC increased its stake in shares of Ellie Mae by 9.3% in the third quarter. BlackRock Investment Management LLC now owns 120,295 shares of the company’s stock worth $12,667,000 after buying an additional 10,280 shares during the last quarter.
Ellie Mae Company Profile
Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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