Ellie Mae Inc (ELLI) Sees Large Volume Increase
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.