Bank of New York Mellon Corp Cuts Position in Ellie Mae Inc (ELLI)

Bank of New York Mellon Corp cut its stake in Ellie Mae Inc (NYSE:ELLI) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,162 shares of the software maker’s stock after selling 4,016 shares during the period. Bank of New York Mellon Corp’s holdings in Ellie Mae were worth $10,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC grew its stake in shares of Ellie Mae by 328.9% in the 4th quarter. Ffcm LLC now owns 2,329 shares of the software maker’s stock worth $146,000 after buying an additional 1,786 shares during the last quarter. GAM Holding AG grew its stake in shares of Ellie Mae by 35.7% in the fourth quarter. GAM Holding AG now owns 42,615 shares of the software maker’s stock worth $2,678,000 after acquiring an additional 11,221 shares during the last quarter. BlackRock Inc. grew its stake in shares of Ellie Mae by 1.0% in the fourth quarter. BlackRock Inc. now owns 2,467,891 shares of the software maker’s stock worth $155,058,000 after acquiring an additional 23,928 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Ellie Mae by 3.7% during the fourth quarter. New York State Common Retirement Fund now owns 733,912 shares of the software maker’s stock valued at $46,112,000 after acquiring an additional 26,087 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its holdings in shares of Ellie Mae by 153.3% during the fourth quarter. Virginia Retirement Systems ET AL now owns 15,200 shares of the software maker’s stock valued at $955,000 after acquiring an additional 9,200 shares in the last quarter.

In other Ellie Mae news, EVP Gates Cathleen Schreiner sold 8,164 shares of the firm’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $67.26, for a total value of $549,110.64. Following the transaction, the executive vice president now directly owns 34,025 shares of the company’s stock, valued at $2,288,521.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Corr sold 12,515 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $98.92, for a total value of $1,237,983.80. Following the sale, the chief executive officer now owns 136,289 shares of the company’s stock, valued at $13,481,707.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,140 shares of company stock worth $8,021,184. 3.14% of the stock is owned by insiders.

ELLI opened at $98.87 on Friday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 95.99, a P/E/G ratio of 7.04 and a beta of 1.40. Ellie Mae Inc has a 52-week low of $58.49 and a 52-week high of $116.90.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, February 14th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Ellie Mae had a net margin of 5.02% and a return on equity of 4.17%. The company had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $113.97 million. On average, equities research analysts forecast that Ellie Mae Inc will post 0.95 earnings per share for the current fiscal year.

ELLI has been the topic of a number of analyst reports. Zelman & Associates cut shares of Ellie Mae from a “hold” rating to a “sell” rating in a research note on Monday, December 24th. JMP Securities reaffirmed a “buy” rating and issued a $99.00 target price on shares of Ellie Mae in a report on Monday, February 11th. Susquehanna Bancshares raised shares of Ellie Mae from a “negative” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $99.00 in a report on Wednesday, February 13th. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Wednesday, January 16th. Finally, Needham & Company LLC cut shares of Ellie Mae from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $86.43.

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Ellie Mae Profile

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. It provides Encompass, an enterprise solution that engages in running the business of originating mortgages, including marketing and 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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Institutional Ownership by Quarter for Ellie Mae (NYSE:ELLI)

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