Shares of Ellie Mae Inc (NASDAQ:ELLI) saw strong trading volume on Thursday . 2,090,356 shares traded hands during trading, an increase of 207% from the previous session’s volume of 680,232 shares.The stock last traded at $96.55 and had previously closed at $92.52.

Several equities analysts have commented on the stock. Barclays PLC lowered 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 research report on Tuesday, July 5th. JMP Securities raised their target price on shares of Ellie Mae from $94.00 to $107.00 and gave the stock a “market outperform” rating in a report on Friday, July 29th. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $100.00 target price on shares of Ellie Mae in a report on Wednesday, June 15th. Finally, Needham & Company LLC raised their target price on shares of Ellie Mae from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $109.40.

The company has a market capitalization of $2.98 billion and a P/E ratio of 127.92. The firm’s 50 day moving average price is $92.70 and its 200 day moving average price is $83.90.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. During the same period in the previous year, the firm posted $0.48 EPS. The company earned $90.10 million during the quarter, compared to analysts’ expectations of $85.54 million. Ellie Mae’s revenue was up 36.7% compared to the same quarter last year. Equities research analysts forecast that Ellie Mae Inc will post $2.07 earnings per share for the current fiscal year.

In related news, CFO Edgar Luce sold 5,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $92.27, for a total value of $461,350.00. Following the completion of the sale, the chief financial officer now owns 71,596 shares of the company’s stock, valued at approximately $6,606,162.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Karen Blasing sold 1,208 shares of the business’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $86.06, for a total transaction of $103,960.48. Following the completion of the sale, the director now directly owns 5,276 shares of the company’s stock, valued at approximately $454,052.56. 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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