Stratos Wealth Partners LTD. Acquires New Position in Ellie Mae Inc (NASDAQ:ELLI)
Stratos Wealth Partners LTD. acquired a new stake in shares of Ellie Mae Inc (NASDAQ:ELLI) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 4,655 shares of the software maker’s stock, valued at approximately $512,000.
Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Ellie Mae by 8.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock worth $135,000 after buying an additional 100 shares during the period. Bank of Montreal Can raised its position in shares of Ellie Mae by 1.4% in the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock worth $200,000 after buying an additional 25 shares during the period. Jane Street Group LLC purchased a new position in shares of Ellie Mae during the first quarter worth about $214,000. Banco BTG Pactual S.A. purchased a new position in shares of Ellie Mae during the first quarter worth about $221,000. Finally, United Capital Financial Advisers LLC purchased a new position in shares of Ellie Mae during the first quarter worth about $231,000.
Shares of Ellie Mae Inc (ELLI) opened at 88.95 on Monday. The company has a 50-day moving average price of $108.56 and a 200 day moving average price of $102.19. The firm has a market capitalization of $3.05 billion and a PE ratio of 58.99. Ellie Mae Inc has a 12-month low of $77.60 and a 12-month high of $114.95.
Ellie Mae (NASDAQ:ELLI) last issued its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.16. Ellie Mae had a net margin of 10.32% and a return on equity of 5.72%. The company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $110.69 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts expect that Ellie Mae Inc will post $1.49 earnings per share for the current year.
ELLI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research note on Monday, July 3rd. Pacific Crest reiterated an “overweight” rating and set a $130.00 price objective (up previously from $110.00) on shares of Ellie Mae in a research note on Sunday, April 23rd. Royal Bank Of Canada reduced their price objective on Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, April 24th. Bank of America Corporation initiated coverage on Ellie Mae in a research note on Monday, May 15th. They set a “buy” rating and a $130.00 price objective for the company. Finally, KeyCorp reiterated a “buy” rating and set a $130.00 price objective on shares of Ellie Mae in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $116.54.
In other Ellie Mae news, EVP Joseph P. Tyrrell sold 25,871 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $107.67, for a total value of $2,785,530.57. Following the completion of the transaction, the executive vice president now directly owns 41,269 shares of the company’s stock, valued at $4,443,433.23. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sigmund Anderman sold 1,319 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $109.90, for a total transaction of $144,958.10. Following the completion of the transaction, the insider now directly owns 98,321 shares of the company’s stock, valued at $10,805,477.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,305 shares of company stock valued at $6,887,546.
About Ellie Mae
Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.
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