Ellie Mae Inc (NASDAQ:ELLI) shares traded down 1.7% on Tuesday . The stock traded as low as $94.63 and last traded at $95.96, with a volume of 511,539 shares. The stock had previously closed at $97.63.

A number of analysts have issued reports on the stock. Barclays PLC downgraded shares of Ellie Mae from an “overweight” rating to an “equal weight” rating and set a $97.00 price objective for the company. in a report on Tuesday, July 5th. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $100.00 price objective on shares of Ellie Mae in a report on Wednesday, June 15th.

The stock’s 50 day moving average price is $87.65 and its 200-day moving average price is $80.38. The firm has a market capitalization of $2.87 billion and a PE ratio of 140.77.

In related news, CFO Edgar Luce sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $92.27, for a total transaction of $461,350.00. Following the transaction, the chief financial officer now directly owns 71,596 shares of the company’s stock, valued at $6,606,162.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Corr sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $91.13, for a total transaction of $318,955.00. Following the transaction, the chief executive officer now directly owns 114,843 shares in the company, valued at $10,465,642.59. 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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