Shares of Ellie Mae Inc (NASDAQ:ELLI) saw unusually-high trading volume on Thursday . Approximately 350,884 shares traded hands during trading, a decline of 1% from the previous session’s volume of 354,786 shares.The stock last traded at $98.14 and had previously closed at $97.87.

ELLI has been the subject of a number of recent research reports. Needham & Company LLC boosted their price target on shares of 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 raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, July 6th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $100.00 price target on shares of Ellie Mae in a research note on Wednesday, June 15th. Barclays PLC boosted their price target on shares of Ellie Mae from $97.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Finally, JMP Securities boosted their price target on shares of Ellie Mae from $94.00 to $107.00 and gave the stock a “market outperform” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $109.40.

The stock has a market capitalization of $3.00 billion and a PE ratio of 129.06. The stock’s 50-day moving average price is $96.79 and its 200 day moving average price is $88.25.

Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The firm earned $90.10 million during the quarter, compared to the consensus estimate of $85.54 million. Ellie Mae’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. On average, equities analysts forecast that Ellie Mae Inc will post $2.05 EPS for the current year.

In other news, Director Marina Levinson sold 2,412 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $95.96, for a total value of $231,455.52. Following the sale, the director now directly owns 5,726 shares of the company’s stock, valued at $549,466.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sigmund Anderman sold 55,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $96.81, for a total value of $5,324,550.00. Following the completion of the sale, the insider now directly owns 157,874 shares in the company, valued at $15,283,781.94. 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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