Brown Advisory Inc. Trims Stake in Ellie Mae Inc (ELLI)
Brown Advisory Inc. trimmed its holdings in Ellie Mae Inc (NYSE:ELLI) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,076 shares of the software maker’s stock after selling 664 shares during the quarter. Brown Advisory Inc.’s holdings in Ellie Mae were worth $632,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in ELLI. Meritage Group LP purchased a new stake in shares of Ellie Mae in the third quarter valued at about $38,834,000. Ameriprise Financial Inc. raised its holdings in shares of Ellie Mae by 378.7% in the third quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after buying an additional 151,347 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Ellie Mae in the third quarter valued at about $11,753,000. Tekne Capital Management LLC raised its holdings in shares of Ellie Mae by 35.8% in the third quarter. Tekne Capital Management LLC now owns 429,539 shares of the software maker’s stock valued at $35,278,000 after buying an additional 113,237 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ellie Mae by 56.3% in the third quarter. Dimensional Fund Advisors LP now owns 308,930 shares of the software maker’s stock valued at $25,371,000 after buying an additional 111,311 shares during the last quarter.
Ellie Mae Inc (ELLI) opened at $92.51 on Monday. The stock has a market cap of $3,172.15, a PE ratio of 84.87, a P/E/G ratio of 7.87 and a beta of 0.63. Ellie Mae Inc has a 1-year low of $79.71 and a 1-year high of $114.95.
In other Ellie Mae news, EVP Gates Cathleen Schreiner sold 1,900 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $86.01, for a total transaction of $163,419.00. Following the transaction, the executive vice president now directly owns 43,149 shares in the company, valued at $3,711,245.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Corr sold 1,623 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $88.72, for a total transaction of $143,992.56. Following the transaction, the chief executive officer now owns 114,633 shares in the company, valued at $10,170,239.76. The disclosure for this sale can be found here. Insiders have sold 80,552 shares of company stock worth $7,331,074 over the last 90 days. 3.39% of the stock is currently owned by company insiders.
ELLI has been the subject of a number of research reports. Barclays raised shares of Ellie Mae from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $100.00 to $114.00 in a report on Tuesday, January 9th. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, December 27th. KeyCorp reaffirmed a “buy” rating and issued a $116.00 target price on shares of Ellie Mae in a report on Sunday, November 19th. Morgan Stanley increased their price target on shares of Ellie Mae from $101.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $106.00 price target on shares of Ellie Mae in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $106.77.
Ellie Mae 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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