Analysts Set Ellie Mae Inc (ELLI) Target Price at $108.18
Ellie Mae Inc (NYSE:ELLI) has been given an average rating of “Buy” by the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $108.10.
A number of analysts recently issued reports on ELLI shares. KeyCorp reissued a “buy” rating and set a $116.00 price objective on shares of Ellie Mae in a report on Sunday, November 19th. Zacks Investment Research raised Ellie Mae from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, December 27th. Compass Point started coverage on Ellie Mae in a report on Wednesday, January 3rd. They set a “sell” rating and a $65.00 price objective on the stock. Barclays raised Ellie Mae from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $100.00 to $114.00 in a report on Tuesday, January 9th. Finally, Morgan Stanley increased their price objective on Ellie Mae from $101.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th.
Shares of Ellie Mae (NYSE ELLI) traded up $0.19 on Friday, reaching $96.27. The company had a trading volume of 100,937 shares, compared to its average volume of 399,567. The stock has a market cap of $3,279.48, a PE ratio of 65.24, a price-to-earnings-growth ratio of 8.13 and a beta of 0.63. Ellie Mae has a twelve month low of $79.71 and a twelve month high of $114.95.
In other news, insider Sigmund Anderman sold 18,726 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $88.80, for a total transaction of $1,662,868.80. Following the transaction, the insider now directly owns 81,087 shares in the company, valued at approximately $7,200,525.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Lavay sold 629 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $90.13, for a total value of $56,691.77. Following the transaction, the chief financial officer now owns 11,056 shares in the company, valued at $996,477.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,917 shares of company stock worth $7,676,058. Insiders own 3.39% of the company’s stock.
Several institutional investors have recently made changes to their positions in ELLI. Nationwide Fund Advisors increased its position in shares of Ellie Mae by 26.8% during the 3rd quarter. Nationwide Fund Advisors now owns 242,728 shares of the software maker’s stock valued at $19,935,000 after purchasing an additional 51,253 shares during the last quarter. First Trust Advisors LP increased its position in shares of Ellie Mae by 272.2% during the 3rd quarter. First Trust Advisors LP now owns 25,251 shares of the software maker’s stock valued at $2,074,000 after purchasing an additional 18,467 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Ellie Mae during the 3rd quarter valued at about $139,000. State of Wisconsin Investment Board increased its position in shares of Ellie Mae by 247.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 33,000 shares of the software maker’s stock valued at $2,710,000 after purchasing an additional 23,500 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC increased its position in shares of Ellie Mae by 110.0% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,412 shares of the software maker’s stock valued at $609,000 after purchasing an additional 3,882 shares during the last quarter.
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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