Summit Creek Advisors LLC lowered its stake in shares of Ellie Mae Inc (NASDAQ:ELLI) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,928 shares of the software maker’s stock after selling 8,386 shares during the period. Ellie Mae accounts for about 2.4% of Summit Creek Advisors LLC’s portfolio, making the stock its 19th largest position. Summit Creek Advisors LLC owned about 0.33% of Ellie Mae worth $11,223,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of ELLI. Hermes Investment Management Ltd. raised its position in shares of Ellie Mae by 2.5% in the first quarter. Hermes Investment Management Ltd. now owns 189,166 shares of the software maker’s stock valued at $18,968,000 after buying an additional 4,606 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Ellie Mae during the first quarter valued at $351,000. Merriman Wealth Management LLC raised its position in shares of Ellie Mae by 17.8% in the first quarter. Merriman Wealth Management LLC now owns 70,586 shares of the software maker’s stock valued at $7,078,000 after buying an additional 10,666 shares during the last quarter. Creative Planning raised its position in shares of Ellie Mae by 31.0% in the first quarter. Creative Planning now owns 2,989 shares of the software maker’s stock valued at $300,000 after buying an additional 707 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Ellie Mae by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 72,934 shares of the software maker’s stock valued at $6,103,000 after buying an additional 3,054 shares during the last quarter.
Shares of Ellie Mae Inc (NASDAQ:ELLI) traded down 0.40% on Friday, reaching $108.32. The company had a trading volume of 303,147 shares. The company’s 50-day moving average price is $100.66 and its 200-day moving average price is $93.22. The firm has a market capitalization of $3.66 billion and a price-to-earnings ratio of 94.19. Ellie Mae Inc has a 52-week low of $74.11 and a 52-week high of $110.45.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data on Thursday, February 9th. The software maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $96.20 million for the quarter, compared to the consensus estimate of $88.73 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. Ellie Mae’s quarterly revenue was up 48.2% compared to the same quarter last year. On average, analysts predict that Ellie Mae Inc will post $1.88 earnings per share for the current year.
ELLI has been the topic of several analyst reports. Pacific Crest reiterated an “overweight” rating on shares of Ellie Mae in a report on Saturday, January 7th. Zacks Investment Research downgraded Ellie Mae from a “buy” rating to a “hold” rating in a report on Monday, January 2nd. Vetr downgraded Ellie Mae from a “strong-buy” rating to a “buy” rating and set a $97.50 price target on the stock. in a report on Monday, February 6th. Morgan Stanley initiated coverage on Ellie Mae in a report on Thursday, January 12th. They set an “equal weight” rating and a $95.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target on shares of Ellie Mae in a report on Friday, January 13th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $102.30.
In other Ellie Mae news, EVP Gates Cathleen Schreiner sold 1,350 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $97.18, for a total value of $131,193.00. Following the completion of the transaction, the executive vice president now directly owns 53,946 shares in the company, valued at $5,242,472.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Hirsch sold 1,725 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $93.42, for a total value of $161,149.50. Following the completion of the transaction, the executive vice president now owns 18,164 shares of the company’s stock, valued at $1,696,880.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,062 shares of company stock valued at $15,046,251.
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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