Ellie Mae Inc (NYSE:ELLI) – Equities researchers at Wedbush decreased their Q1 2019 earnings per share estimates for shares of Ellie Mae in a report released on Monday, October 29th. Wedbush analyst H. Coffey now forecasts that the software maker will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.18. Wedbush currently has a “Underperform” rating and a $53.00 target price on the stock. Wedbush also issued estimates for Ellie Mae’s Q2 2019 earnings at $0.29 EPS and Q4 2019 earnings at $0.36 EPS.
Several other equities analysts have also recently commented on ELLI. ValuEngine cut shares of Ellie Mae from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Needham & Company LLC lowered their price target on shares of Ellie Mae to $85.00 and set a “buy” rating on the stock in a report on Friday, October 26th. They noted that the move was a valuation call. Oppenheimer lowered their price target on shares of Ellie Mae from $125.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Morgan Stanley set a $77.00 price target on shares of Ellie Mae and gave the company a “hold” rating in a report on Friday, October 26th. Finally, KeyCorp boosted their price target on shares of Ellie Mae from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Ellie Mae currently has a consensus rating of “Hold” and a consensus price target of $88.36.
Several hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in Ellie Mae during the 1st quarter worth $242,000. Cubist Systematic Strategies LLC lifted its position in Ellie Mae by 129.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,643 shares of the software maker’s stock worth $243,000 after acquiring an additional 1,493 shares during the last quarter. Alps Advisors Inc. acquired a new position in Ellie Mae during the 2nd quarter worth $286,000. Oppenheimer & Co. Inc. acquired a new position in Ellie Mae during the 3rd quarter worth $342,000. Finally, Palo Capital Inc. acquired a new position in Ellie Mae during the 3rd quarter worth $379,000.
In related news, Director A Barr Dolan sold 3,000 shares of Ellie Mae stock in a transaction on Friday, August 10th. The shares were sold at an average price of $104.57, for a total value of $313,710.00. Following the completion of the sale, the director now owns 9,212 shares of the company’s stock, valued at approximately $963,298.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sigmund Anderman sold 15,000 shares of Ellie Mae stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $101.97, for a total transaction of $1,529,550.00. Following the completion of the sale, the director now directly owns 42,901 shares of the company’s stock, valued at approximately $4,374,614.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,264 shares of company stock valued at $2,167,821. 3.14% of the stock is owned by company insiders.
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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