Barclays reiterated their buy rating on shares of Ellie Mae (NYSE:ELLI) in a research note issued to investors on Tuesday, October 16th. The firm currently has a $102.00 price target on the software maker’s stock.
Several other research firms have also recently commented on ELLI. JPMorgan Chase & Co. cut Ellie Mae from an overweight rating to a neutral rating and increased their price objective for the company from $112.00 to $118.00 in a research report on Thursday, June 21st. They noted that the move was a valuation call. KeyCorp increased their price objective on Ellie Mae from $130.00 to $135.00 and gave the company an overweight rating in a research report on Friday, July 27th. Morgan Stanley increased their price objective on Ellie Mae from $109.00 to $118.00 and gave the company an equal weight rating in a research report on Friday, July 27th. Roth Capital raised Ellie Mae from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a research report on Wednesday, October 10th. Finally, Royal Bank of Canada increased their target price on Ellie Mae to $125.00 and gave the company an outperform rating in a report on Monday, June 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $88.36.
ELLI stock traded down $1.89 during midday trading on Tuesday, hitting $65.51. The stock had a trading volume of 810,113 shares, compared to its average volume of 1,031,786. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 63.60, a PEG ratio of 5.22 and a beta of 1.29. Ellie Mae has a 52-week low of $61.51 and a 52-week high of $116.90.
In other news, VP Popi Heron sold 731 shares of Ellie Mae stock in a transaction that occurred on 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 in the company, valued at approximately $397,278.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Corr sold 590 shares of Ellie Mae stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $105.50, for a total value of $62,245.00. Following the completion of the transaction, the chief executive officer now owns 109,573 shares of the company’s stock, valued at approximately $11,559,951.50. The disclosure for this sale can be found here. Insiders have sold a total of 18,995 shares of company stock valued at $1,901,502 in the last 90 days. 3.14% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Ellie Mae by 0.7% during the 3rd quarter. BlackRock Inc. now owns 2,443,963 shares of the software maker’s stock worth $231,613,000 after acquiring an additional 16,995 shares during the last quarter. FMR LLC lifted its stake in shares of Ellie Mae by 14.9% during the 2nd quarter. FMR LLC now owns 1,559,695 shares of the software maker’s stock worth $161,959,000 after acquiring an additional 202,708 shares during the last quarter. Sylebra HK Co Ltd lifted its stake in shares of Ellie Mae by 12.2% during the 2nd quarter. Sylebra HK Co Ltd now owns 1,256,481 shares of the software maker’s stock worth $130,473,000 after acquiring an additional 136,427 shares during the last quarter. Meritage Group LP lifted its stake in shares of Ellie Mae by 27.4% during the 2nd quarter. Meritage Group LP now owns 1,116,510 shares of the software maker’s stock worth $115,938,000 after acquiring an additional 240,016 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Ellie Mae by 6.4% during the 2nd quarter. Baillie Gifford & Co. now owns 1,029,367 shares of the software maker’s stock worth $106,889,000 after acquiring an additional 61,830 shares during the last quarter.
About Ellie Mae
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.
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