Insider Selling: Ellie Mae Inc (ELLI) Insider Sells 12,000 Shares of Stock
Ellie Mae Inc (NASDAQ:ELLI) insider Sigmund Anderman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the completion of the sale, the insider now owns 98,321 shares of the company’s stock, valued at approximately $8,774,166.04. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Ellie Mae Inc (NASDAQ:ELLI) traded down 0.74% during midday trading on Monday, reaching $88.88. 889,716 shares of the company’s stock were exchanged. Ellie Mae Inc has a 1-year low of $77.60 and a 1-year high of $114.95. The stock has a market cap of $3.06 billion and a P/E ratio of 58.94. The firm’s 50-day moving average is $84.84 and its 200 day moving average is $98.44.
Ellie Mae (NASDAQ:ELLI) last released its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.16. The company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $110.69 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts anticipate that Ellie Mae Inc will post $1.48 earnings per share for the current fiscal year.
Ellie Mae declared that its board has authorized a stock buyback plan on Tuesday, September 5th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 8.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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Several equities research analysts recently commented on ELLI shares. ValuEngine upgraded shares of Ellie Mae from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $101.00 price target on shares of Ellie Mae in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Ellie Mae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Roth Capital downgraded shares of Ellie Mae from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, BidaskClub downgraded shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Ellie Mae presently has a consensus rating of “Buy” and an average price target of $113.77.
Several institutional investors have recently added to or reduced their stakes in ELLI. Parametric Portfolio Associates LLC boosted its holdings in shares of Ellie Mae by 28.4% in the first quarter. Parametric Portfolio Associates LLC now owns 47,518 shares of the software maker’s stock valued at $4,765,000 after buying an additional 10,505 shares during the period. United Services Automobile Association boosted its holdings in shares of Ellie Mae by 159.6% in the first quarter. United Services Automobile Association now owns 8,620 shares of the software maker’s stock valued at $864,000 after buying an additional 5,300 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Ellie Mae by 1.6% in the first quarter. Principal Financial Group Inc. now owns 19,896 shares of the software maker’s stock valued at $1,995,000 after buying an additional 321 shares during the period. FMR LLC boosted its holdings in shares of Ellie Mae by 295.0% in the first quarter. FMR LLC now owns 719,149 shares of the software maker’s stock valued at $72,109,000 after buying an additional 537,095 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in shares of Ellie Mae by 2.1% in the first quarter. Teachers Advisors LLC now owns 74,482 shares of the software maker’s stock valued at $7,468,000 after buying an additional 1,548 shares during the period.
Ellie Mae Company Profile
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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