Ellie Mae Inc (NASDAQ:ELLI) shares saw unusually-high trading volume on Thursday . Approximately 350,884 shares changed 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 topic of a number of research reports. Barclays PLC increased their target price on shares of Ellie Mae from $97.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th. Needham & Company LLC increased 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. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $100.00 price objective on shares of Ellie Mae in a report on Wednesday, June 15th. Finally, JMP Securities raised their price objective on shares of Ellie Mae from $94.00 to $107.00 and gave the company a “market outperform” rating in a report on Friday, July 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $109.40.

The firm’s 50 day moving average price is $96.85 and its 200 day moving average price is $88.33. The stock has a market cap of $2.99 billion and a price-to-earnings ratio of 128.31.

Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The company earned $90.10 million during the quarter, compared to analysts’ expectations of $85.54 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Ellie Mae’s revenue for the quarter was up 36.7% compared to the same quarter last year. Equities research analysts anticipate that Ellie Mae Inc will post $2.05 earnings per share for the current fiscal year.

In related news, EVP Limin Hu sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $95.63, for a total value of $478,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marina Levinson sold 2,412 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $95.96, for a total transaction of $231,455.52. Following the completion of the sale, the director now owns 5,726 shares of the company’s stock, valued at $549,466.96. 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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