Ellie Mae Inc (ELLI) Hits New 52-Week High at $98.79
Ellie Mae Inc (NASDAQ:ELLI) shares reached a new 52-week high on Monday . The company traded as high as $98.79 and last traded at $97.47, with a volume of 663,689 shares trading hands. The stock had previously closed at $94.57.
A number of research analysts recently weighed in on ELLI shares. Oppenheimer Holdings Inc. restated a “buy” rating and set a $100.00 target price on shares of Ellie Mae in a research note on Wednesday, June 15th. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, July 6th. Finally, Barclays PLC cut shares of Ellie Mae from an “overweight” rating to an “equal weight” rating and set a $97.00 price target on the stock. in a research note on Tuesday, July 5th.
The company has a 50 day moving average of $87.34 and a 200 day moving average of $80.27. The company has a market cap of $2.88 billion and a price-to-earnings ratio of 141.35.
In other news, CEO Jonathan Corr sold 3,500 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $91.13, for a total value of $318,955.00. Following the sale, the chief executive officer now owns 114,843 shares in the company, valued at $10,465,642.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edgar Luce sold 5,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $92.27, for a total transaction of $461,350.00. Following the completion of the sale, the chief financial officer now owns 71,596 shares in the company, valued at approximately $6,606,162.92. The disclosure for this sale can be found here.
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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