Fred Alger Management Inc. Grows Holdings in Ellie Mae Inc (ELLI)

Fred Alger Management Inc. raised its position in Ellie Mae Inc (NYSE:ELLI) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,565 shares of the software maker’s stock after acquiring an additional 39,348 shares during the quarter. Fred Alger Management Inc.’s holdings in Ellie Mae were worth $18,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELLI. Nationwide Fund Advisors grew its position in Ellie Mae by 26.8% in the 3rd quarter. Nationwide Fund Advisors now owns 242,728 shares of the software maker’s stock valued at $19,935,000 after acquiring an additional 51,253 shares in the last quarter. First Trust Advisors LP grew its position in Ellie Mae by 272.2% in the 3rd quarter. First Trust Advisors LP now owns 25,251 shares of the software maker’s stock valued at $2,074,000 after acquiring an additional 18,467 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Ellie Mae in the 3rd quarter valued at about $139,000. State of Wisconsin Investment Board grew its position in Ellie Mae by 247.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 33,000 shares of the software maker’s stock valued at $2,710,000 after acquiring an additional 23,500 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC grew its position in Ellie Mae by 110.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,412 shares of the software maker’s stock valued at $609,000 after acquiring an additional 3,882 shares in the last quarter.

ELLI has been the subject of several research reports. Morgan Stanley lifted their target price on Ellie Mae from $101.00 to $109.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. KeyCorp lifted their target price on Ellie Mae from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Compass Point initiated coverage on Ellie Mae in a research report on Wednesday, January 3rd. They issued a “sell” rating and a $65.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $106.00 target price on shares of Ellie Mae in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $106.77.

In related news, EVP Brian E. Brown sold 2,081 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $89.47, for a total transaction of $186,187.07. Following the completion of the sale, the executive vice president now owns 14,238 shares in the company, valued at $1,273,873.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Corr sold 2,212 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $88.95, for a total value of $196,757.40. Following the sale, the chief executive officer now owns 114,633 shares of the company’s stock, valued at approximately $10,196,605.35. The disclosure for this sale can be found here. Insiders sold a total of 86,129 shares of company stock valued at $7,872,815 in the last quarter. Company insiders own 3.39% of the company’s stock.

Ellie Mae Inc (ELLI) opened at $93.86 on Friday. The stock has a market capitalization of $3,218.46, a PE ratio of 86.11, a PEG ratio of 7.98 and a beta of 0.63. Ellie Mae Inc has a 52 week low of $79.71 and a 52 week high of $114.95.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.27 million. Ellie Mae had a return on equity of 5.39% and a net margin of 12.67%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. analysts expect that Ellie Mae Inc will post 0.78 earnings per share for the current year.

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Ellie Mae Profile

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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Institutional Ownership by Quarter for Ellie Mae (NYSE:ELLI)

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