Whale Rock Capital Management LLC Decreases Stake in Ellie Mae (ELLI)

Whale Rock Capital Management LLC lowered its holdings in Ellie Mae (NYSE:ELLI) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 789,136 shares of the software maker’s stock after selling 109,455 shares during the quarter. Ellie Mae accounts for 3.3% of Whale Rock Capital Management LLC’s holdings, making the stock its 13th biggest position. Whale Rock Capital Management LLC owned approximately 2.31% of Ellie Mae worth $70,549,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in shares of Ellie Mae in the third quarter worth $139,000. Advisor Group Inc. grew its position in Ellie Mae by 69.3% during the third quarter. Advisor Group Inc. now owns 1,717 shares of the software maker’s stock valued at $140,000 after buying an additional 703 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ellie Mae by 45.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock valued at $174,000 after buying an additional 602 shares during the period. Barings LLC acquired a new stake in Ellie Mae during the fourth quarter valued at $201,000. Finally, Atria Investments LLC acquired a new stake in Ellie Mae during the fourth quarter valued at $261,000.

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Shares of NYSE ELLI opened at $92.82 on Friday. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $114.95. The stock has a market capitalization of $3,232.16, a PE ratio of 90.12, a P/E/G ratio of 8.02 and a beta of 0.53.

Ellie Mae (NYSE:ELLI) last announced its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ellie Mae had a net margin of 12.67% and a return on equity of 5.39%. The business had revenue of $112.89 million for the quarter, compared to analyst estimates of $108.27 million. During the same quarter last year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. sell-side analysts forecast that Ellie Mae will post 0.78 EPS for the current year.

Several research firms recently commented on ELLI. KeyCorp restated a “buy” rating and set a $120.00 price target on shares of Ellie Mae in a research report on Wednesday, March 21st. Royal Bank of Canada restated an “outperform” rating and set a $106.00 price target on shares of Ellie Mae in a research report on Wednesday, February 14th. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Stephens restated a “hold” rating and set a $92.00 price target on shares of Ellie Mae in a research report on Friday, February 9th. Finally, Bank of America dropped their price target on shares of Ellie Mae from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Ellie Mae presently has a consensus rating of “Buy” and an average target price of $104.91.

In other news, EVP Gates Cathleen Schreiner sold 13,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $95.56, for a total value of $1,242,280.00. Following the transaction, the executive vice president now directly owns 56,313 shares of the company’s stock, valued at $5,381,270.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian E. Brown sold 2,081 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $89.47, for a total transaction of $186,187.07. Following the completion of the transaction, the executive vice president now directly owns 14,238 shares in the company, valued at $1,273,873.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,269 shares of company stock worth $6,660,105. Company insiders own 3.39% of the company’s stock.

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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.

Institutional Ownership by Quarter for Ellie Mae (NYSE:ELLI)

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