Virginia Retirement Systems ET AL bought a new stake in Ellie Mae Inc (NYSE:ELLI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the software maker’s stock, valued at approximately $569,000.

A number of other hedge funds have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. purchased a new position in shares of Ellie Mae in the 3rd quarter valued at $342,000. Oppenheimer Asset Management Inc. grew its stake in Ellie Mae by 16.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,025 shares of the software maker’s stock worth $1,518,000 after buying an additional 2,283 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Ellie Mae by 22.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 58,773 shares of the software maker’s stock worth $5,570,000 after buying an additional 10,904 shares during the last quarter. Alps Advisors Inc. grew its stake in Ellie Mae by 87.3% during the 3rd quarter. Alps Advisors Inc. now owns 5,150 shares of the software maker’s stock worth $488,000 after buying an additional 2,400 shares during the last quarter. Finally, Palo Capital Inc. purchased a new position in Ellie Mae during the 3rd quarter worth $379,000.

ELLI has been the topic of several research analyst reports. KeyCorp boosted their target price on Ellie Mae from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. JMP Securities boosted their price target on Ellie Mae from $120.00 to $125.00 and gave the company a “market outperform” rating in a research note on Friday, July 27th. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target on shares of Ellie Mae in a research note on Friday, July 27th. Morgan Stanley boosted their price target on Ellie Mae from $109.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. Finally, Roth Capital boosted their price target on Ellie Mae from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $88.36.

Ellie Mae stock opened at $64.57 on Tuesday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 62.69, a PEG ratio of 5.24 and a beta of 1.29. Ellie Mae Inc has a fifty-two week low of $61.51 and a fifty-two week high of $116.90.

Ellie Mae (NYSE:ELLI) last issued its quarterly earnings data on Thursday, October 25th. The software maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.10. The business had revenue of $122.97 million during the quarter, compared to analysts’ expectations of $128.22 million. Ellie Mae had a return on equity of 4.78% and a net margin of 7.11%. As a group, equities research analysts forecast that Ellie Mae Inc will post 0.93 earnings per share for the current year.

In other news, VP Popi Heron sold 731 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $64.83, for a total value of $47,390.73. Following the completion of the transaction, the vice president now owns 6,128 shares of the company’s stock, valued at approximately $397,278.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jonathan Corr sold 589 shares of the business’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $83.87, for a total value of $49,399.43. Following the completion of the transaction, the chief executive officer now directly owns 109,572 shares of the company’s stock, valued at approximately $9,189,803.64. The disclosure for this sale can be found here. In the last three months, insiders sold 2,241 shares of company stock valued at $189,768. Insiders own 3.14% of the company’s stock.

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Ellie Mae Company Profile

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.

Further Reading: How can you know how many shares are floating?

Institutional Ownership by Quarter for Ellie Mae (NYSE:ELLI)

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