Ellie Mae Inc (ELLI) Sees Strong Trading Volume
Ellie Mae Inc (NASDAQ:ELLI) saw unusually-strong trading volume on Thursday . Approximately 2,090,356 shares were traded during mid-day 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.
A number of analysts have recently commented on ELLI shares. Barclays PLC upped their target price on Ellie Mae from $97.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Needham & Company LLC upped their target price on Ellie Mae from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research downgraded Ellie Mae from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $100.00 target price on shares of Ellie Mae in a research note on Wednesday, June 15th. Finally, JMP Securities upped their target price on Ellie Mae from $94.00 to $107.00 and gave the stock a “market outperform” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ellie Mae currently has a consensus rating of “Buy” and a consensus target price of $109.40.
The firm has a 50-day moving average price of $93.21 and a 200-day moving average price of $84.10. The firm has a market capitalization of $2.95 billion and a P/E ratio of 126.65.
Ellie Mae (NASDAQ:ELLI) last posted its earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.09. The firm had revenue of $90.10 million for the quarter, compared to analyst estimates of $85.54 million. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. Equities 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 firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $93.96, for a total transaction of $469,800.00. Following the transaction, the chief financial officer now owns 67,496 shares of the company’s stock, valued at $6,341,924.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gates Cathleen Schreiner sold 675 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $92.29, for a total value of $62,295.75. Following the transaction, the executive vice president now directly owns 26,369 shares in the company, valued at approximately $2,433,595.01. 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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