Sylebra HK Co Ltd lowered its stake in Ellie Mae Inc (NASDAQ:ELLI) by 13.7% during the first quarter, Holdings Channel reports. The firm owned 1,407,507 shares of the software maker’s stock after selling 223,525 shares during the period. Ellie Mae comprises approximately 12.6% of Sylebra HK Co Ltd’s holdings, making the stock its 4th largest position. Sylebra HK Co Ltd’s holdings in Ellie Mae were worth $141,131,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. 1st Global Advisors Inc. raised its stake in Ellie Mae by 3.9% in the first quarter. 1st Global Advisors Inc. now owns 4,524 shares of the software maker’s stock valued at $454,000 after buying an additional 168 shares during the period. Neuberger Berman Group LLC raised its stake in Ellie Mae by 1.6% in the first quarter. Neuberger Berman Group LLC now owns 15,722 shares of the software maker’s stock valued at $1,576,000 after buying an additional 240 shares during the period. Principal Financial Group Inc. raised its stake in Ellie Mae by 1.6% in the first quarter. Principal Financial Group Inc. now owns 19,896 shares of the software maker’s stock valued at $1,995,000 after buying an additional 321 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in Ellie Mae by 0.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 48,570 shares of the software maker’s stock valued at $4,870,000 after buying an additional 355 shares during the period. Finally, Swiss National Bank raised its stake in Ellie Mae by 0.9% in the first quarter. Swiss National Bank now owns 55,300 shares of the software maker’s stock valued at $5,545,000 after buying an additional 500 shares during the period.
Ellie Mae Inc (NASDAQ ELLI) traded down 0.46% during trading on Friday, hitting $111.23. 293,345 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 $114.38. The company has a market cap of $3.79 billion and a PE ratio of 84.14. The company’s 50 day moving average price is $108.58 and its 200 day moving average price is $96.28.
Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, April 27th. The software maker reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.03. The firm had revenue of $93 million during the quarter, compared to the consensus estimate of $93.17 million. Ellie Mae’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Analysts expect that Ellie Mae Inc will post $1.91 earnings per share for the current year.
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Several research firms have issued reports on ELLI. William Blair raised shares of Ellie Mae from a “market perform” rating to an “outperform” rating in a research report on Monday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Ellie Mae in a research report on Saturday, March 11th. Royal Bank of Canada dropped their price target on shares of Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating on the stock in a research report on Monday, April 24th. Bank of America Corporation began coverage on shares of Ellie Mae in a research report on Monday, May 15th. They set a “buy” rating and a $130.00 price target on the stock. Finally, CIBC upped their price target on shares of Ellie Mae from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Ellie Mae has an average rating of “Buy” and a consensus target price of $115.04.
In related news, EVP Gates Cathleen Schreiner sold 3,251 shares of Ellie Mae stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $109.09, for a total value of $354,651.59. Following the completion of the sale, the executive vice president now owns 47,311 shares of the company’s stock, valued at approximately $5,161,156.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Corr sold 2,210 shares of Ellie Mae stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $112.41, for a total value of $248,426.10. Following the completion of the sale, the chief executive officer now directly owns 116,002 shares of the company’s stock, valued at approximately $13,039,784.82. The disclosure for this sale can be found here. Insiders have sold a total of 50,375 shares of company stock worth $5,111,098 over the last quarter.
Ellie Mae Company 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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