Ellie Mae Inc (ELLI) Trading Down 6%
Ellie Mae Inc (NASDAQ:ELLI) shares fell 6% during trading on Friday . The stock traded as low as $92.16 and last traded at $92.61, with a volume of 662,506 shares changing hands. The stock had previously closed at $98.47.
Several research firms have recently commented on ELLI. JMP Securities lifted their price target on shares of Ellie Mae from $94.00 to $107.00 and gave the company a “market outperform” rating in a report on Friday. Barclays PLC boosted their target price on shares of Ellie Mae from $97.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday. Needham & Company LLC boosted their target price on shares of Ellie Mae from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and set a $100.00 target price on shares of Ellie Mae in a research note on Wednesday, June 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $109.40.
The stock’s 50-day moving average price is $91.62 and its 200-day moving average price is $83.08. The stock has a market capitalization of $2.78 billion and a PE ratio of 119.62.
Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The company had revenue of $90.10 million for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.48 earnings per share. On average, equities research analysts predict that Ellie Mae Inc will post $2.03 earnings per share for the current fiscal year.
In related news, Director Karen Blasing sold 1,208 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $86.06, for a total transaction of $103,960.48. Following the completion of the transaction, the director now directly owns 5,276 shares in the company, valued at approximately $454,052.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edgar Luce sold 5,000 shares of the company’s stock in a transaction on 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 owns 71,596 shares of the company’s stock, valued at $6,606,162.92. 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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