Ellie Mae (ELLI) Lowered to “Neutral” at Roth Capital

Roth Capital downgraded shares of Ellie Mae (NYSE:ELLI) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, The Fly reports. The firm currently has $99.00 price target on the software maker’s stock, down from their previous price target of $100.00.

A number of other analysts have also weighed in on ELLI. Barclays restated a buy rating and set a $102.00 target price on shares of Ellie Mae in a report on Tuesday, October 16th. ValuEngine lowered Ellie Mae from a buy rating to a hold rating in a report on Friday, October 26th. JPMorgan Chase & Co. lowered Ellie Mae from a neutral rating to an underweight rating and lowered their target price for the stock from $125.00 to $76.00 in a report on Friday, October 26th. Royal Bank of Canada lowered Ellie Mae from an outperform rating to a sector perform rating in a report on Friday, October 26th. Finally, Compass Point lowered their target price on Ellie Mae from $60.00 to $55.00 and set a sell rating for the company in a report on Friday, October 26th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $83.14.

Ellie Mae stock opened at $98.95 on Tuesday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 96.07, a P/E/G ratio of 6.20 and a beta of 1.38. Ellie Mae has a twelve month low of $58.49 and a twelve month high of $116.90.

In related news, Director Sigmund Anderman sold 44,800 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $82.49, for a total value 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 SEC, which is available through this hyperlink. Also, EVP Gates Cathleen Schreiner sold 2,549 shares of the company’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $64.00, for a total value of $163,136.00. Following the completion of 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. Over the last ninety days, insiders have sold 76,190 shares of company stock worth $5,725,870. Insiders own 3.14% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Interstate Bank acquired a new position in shares of Ellie Mae in the 4th quarter valued at $28,000. We Are One Seven LLC acquired a new position in shares of Ellie Mae in the 4th quarter valued at $75,000. Advisor Group Inc. increased its position in shares of Ellie Mae by 32.6% in the 4th quarter. Advisor Group Inc. now owns 2,108 shares of the software maker’s stock valued at $132,000 after acquiring an additional 518 shares during the period. Bank of Montreal Can increased its position in shares of Ellie Mae by 7.1% in the 4th quarter. Bank of Montreal Can now owns 2,271 shares of the software maker’s stock valued at $143,000 after acquiring an additional 150 shares during the period. Finally, Ffcm LLC increased its position in shares of Ellie Mae by 328.9% in the 4th quarter. Ffcm LLC now owns 2,329 shares of the software maker’s stock valued at $146,000 after acquiring an additional 1,786 shares during the period.

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.

Recommended Story: What is the Bid-Ask Spread?

The Fly

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

Receive News & Ratings for Ellie Mae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply