DF Dent & Co. Inc. lessened its stake in shares of Ellie Mae Inc (NASDAQ:ELLI) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,167 shares of the software maker’s stock after selling 1,114 shares during the period. DF Dent & Co. Inc. owned 0.13% of Ellie Mae worth $4,964,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Legato Capital Management LLC acquired a new position in Ellie Mae during the second quarter valued at approximately $319,000. Cambridge Investment Research Advisors Inc. acquired a new position in Ellie Mae during the second quarter valued at approximately $1,461,000. Teachers Advisors LLC grew its holdings in Ellie Mae by 2.1% during the first quarter. Teachers Advisors LLC now owns 74,482 shares of the software maker’s stock valued at $7,468,000 after purchasing an additional 1,548 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Ellie Mae during the first quarter valued at approximately $6,858,000. Finally, Jane Street Group LLC acquired a new position in Ellie Mae during the first quarter valued at approximately $214,000.
In other news, CEO Jonathan Corr sold 2,211 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.44, for a total transaction of $195,540.84. Following the sale, the chief executive officer now directly owns 114,902 shares of the company’s stock, valued at approximately $10,161,932.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sigmund Anderman sold 1,319 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $109.90, for a total value of $144,958.10. Following the sale, the insider now directly owns 98,321 shares in the company, valued at $10,805,477.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,716 shares of company stock worth $1,024,019.
Several brokerages have commented on ELLI. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Ellie Mae in a report on Monday, August 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $90.00 price target on shares of Ellie Mae in a report on Tuesday. BidaskClub downgraded Ellie Mae from a “buy” rating to a “hold” rating in a report on Monday, August 7th. KeyCorp reiterated a “buy” rating and set a $116.00 price target on shares of Ellie Mae in a report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded Ellie Mae from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $112.41.
Shares of Ellie Mae Inc (ELLI) traded up 0.257% on Wednesday, reaching $84.005. The company had a trading volume of 209,259 shares. Ellie Mae Inc has a 52-week low of $77.60 and a 52-week high of $114.95. The company’s 50-day moving average price is $83.71 and its 200-day moving average price is $99.15. The firm has a market capitalization of $2.89 billion and a price-to-earnings ratio of 55.266.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.16. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts predict that Ellie Mae Inc will post $1.49 earnings per share for the current year.
Ellie Mae announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 5th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the software maker to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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