Sylebra HK Co Ltd lowered its stake in Ellie Mae Inc (NASDAQ:ELLI) by 22.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090,978 shares of the software maker’s stock after selling 316,529 shares during the period. Ellie Mae accounts for 10.8% of Sylebra HK Co Ltd’s portfolio, making the stock its 4th largest position. Sylebra HK Co Ltd owned 3.17% of Ellie Mae worth $119,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Ellie Mae by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,637,165 shares of the software maker’s stock valued at $289,851,000 after purchasing an additional 49,323 shares in the last quarter. BlackRock Inc. boosted its stake in Ellie Mae by 83,812.6% in the first quarter. BlackRock Inc. now owns 2,189,279 shares of the software maker’s stock valued at $219,519,000 after acquiring an additional 2,186,670 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Ellie Mae by 10.6% in the second quarter. Alliancebernstein L.P. now owns 1,046,902 shares of the software maker’s stock valued at $115,065,000 after acquiring an additional 100,103 shares during the last quarter. Park West Asset Management LLC boosted its stake in Ellie Mae by 3.3% in the first quarter. Park West Asset Management LLC now owns 931,868 shares of the software maker’s stock valued at $93,438,000 after acquiring an additional 29,913 shares during the last quarter. Finally, FMR LLC boosted its stake in Ellie Mae by 1.2% in the second quarter. FMR LLC now owns 727,992 shares of the software maker’s stock valued at $80,014,000 after acquiring an additional 8,843 shares during the last quarter.
In related news, Director Marina Levinson sold 2,861 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $82.39, for a total value of $235,717.79. Following the completion of the sale, the director now directly owns 3,358 shares in the company, valued at $276,665.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Corr sold 2,211 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $83.76, for a total value of $185,193.36. The disclosure for this sale can be found here. Insiders sold a total of 13,927 shares of company stock valued at $1,209,212 over the last 90 days.
Shares of Ellie Mae Inc (NASDAQ:ELLI) traded down 0.24% during midday trading on Tuesday, reaching $86.57. 102,636 shares of the company’s stock traded hands. Ellie Mae Inc has a 52-week low of $77.60 and a 52-week high of $114.95. The company has a 50 day moving average of $84.00 and a 200 day moving average of $98.85. The firm has a market cap of $2.98 billion and a PE ratio of 57.41.
Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $110.69 million. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Ellie Mae Inc will post $1.49 EPS for the current fiscal year.
Ellie Mae announced that its board has authorized a share repurchase program on Tuesday, September 5th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the software maker to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price objective on the stock in a research note on Monday, July 3rd. BidaskClub cut shares of Ellie Mae from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Ellie Mae in a research note on Monday, August 14th. ValuEngine cut shares of Ellie Mae from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $90.00 price target on shares of Ellie Mae in a research report on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Ellie Mae presently has an average rating of “Buy” and a consensus target price of $112.41.
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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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