Artisan Partners Limited Partnership decreased its position in Ellie Mae Inc (NASDAQ:ELLI) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 442,514 shares of the company’s stock after selling 41,545 shares during the period. Artisan Partners Limited Partnership owned approximately 1.32% of Ellie Mae worth $37,030,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Winslow Evans & Crocker Inc. boosted its position in shares of Ellie Mae by 120.0% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,100 shares of the company’s stock worth $116,000 after buying an additional 600 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Ellie Mae by 9.2% in the third quarter. Advisor Group Inc. now owns 1,130 shares of the company’s stock worth $119,000 after buying an additional 95 shares in the last quarter. Eagle Boston Investment Management Inc. acquired a new position in shares of Ellie Mae during the third quarter worth approximately $204,000. Pacer Advisors Inc. acquired a new position in shares of Ellie Mae during the third quarter worth approximately $291,000. Finally, 1st Global Advisors Inc. acquired a new position in shares of Ellie Mae during the third quarter worth approximately $306,000.
Ellie Mae Inc (NASDAQ:ELLI) traded up 8.99% during mid-day trading on Friday, hitting $98.29. 1,695,262 shares of the stock traded hands. Ellie Mae Inc has a 52 week low of $72.69 and a 52 week high of $109.99. The firm has a market cap of $3.31 billion and a P/E ratio of 85.47. The firm’s 50-day moving average price is $85.30 and its 200-day moving average price is $92.64.
Ellie Mae (NASDAQ:ELLI) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The firm had revenue of $96.20 million for the quarter, compared to analyst estimates of $88.73 million. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, equities analysts forecast that Ellie Mae Inc will post $2.17 earnings per share for the current fiscal year.
A number of brokerages have commented on ELLI. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, December 7th. Pacific Crest restated an “overweight” rating on shares of Ellie Mae in a research note on Saturday, January 7th. Needham & Company LLC restated a “buy” rating on shares of Ellie Mae in a research note on Friday. Morgan Stanley began coverage on shares of Ellie Mae in a research note on Thursday, January 12th. They set an “equal weight” rating and a $95.00 price target for the company. Finally, Royal Bank Of Canada cut shares of Ellie Mae from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $114.00 to $90.00 in a research note on Thursday, November 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $108.30.
In related news, EVP Gates Cathleen Schreiner sold 13,019 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $84.42, for a total value of $1,099,063.98. Following the transaction, the executive vice president now owns 32,653 shares in the company, valued at approximately $2,756,566.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Edgar Luce sold 1,650 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $84.53, for a total transaction of $139,474.50. Following the completion of the transaction, the chief financial officer now owns 44,889 shares in the company, valued at approximately $3,794,467.17. The disclosure for this sale can be found here. Insiders have sold a total of 30,133 shares of company stock worth $2,523,487 over the last 90 days.
About Ellie Mae
Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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