Ellie Mae Sees Unusually Large Options Volume (ELLI)

Ellie Mae (NYSE:ELLI) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 1,322 put options on the company. This is an increase of 1,030% compared to the average daily volume of 117 put options.

ELLI has been the topic of a number of research analyst reports. KeyCorp reiterated a “buy” rating and issued a $120.00 target price on shares of Ellie Mae in a research note on Wednesday, March 21st. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Friday, February 9th. Bank of America dropped their target price on shares of Ellie Mae from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Oppenheimer reiterated a “buy” rating and issued a $110.00 target price on shares of Ellie Mae in a research note on Thursday, February 1st. Finally, Morgan Stanley boosted their target price on shares of Ellie Mae from $101.00 to $109.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $105.25.

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Shares of ELLI stock opened at $89.72 on Thursday. The company has a market cap of $2,990.07, a P/E ratio of 87.11, a price-to-earnings-growth ratio of 7.53 and a beta of 0.53. Ellie Mae has a 12 month low of $79.71 and a 12 month high of $114.95.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $112.89 million for the quarter, compared to analysts’ expectations of $108.27 million. Ellie Mae had a net margin of 12.67% and a return on equity of 5.39%. Ellie Mae’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. research analysts predict that Ellie Mae will post 0.77 earnings per share for the current fiscal year.

In other Ellie Mae news, EVP Brian E. Brown sold 465 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $91.95, for a total value of $42,756.75. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at $1,628,250.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan Corr sold 589 shares of the business’s stock in a transaction dated Wednesday, April 11th. The shares were sold at an average price of $94.34, for a total transaction of $55,566.26. Following the completion of the transaction, the chief executive officer now owns 109,572 shares in the company, valued at $10,337,022.48. The disclosure for this sale can be found here. Insiders sold a total of 58,727 shares of company stock valued at $5,367,643 over the last ninety days. 3.14% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ellie Mae by 45.0% during the 4th 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 in the last quarter. Barings LLC purchased a new stake in shares of Ellie Mae during the 4th quarter valued at approximately $201,000. Atria Investments LLC purchased a new stake in shares of Ellie Mae during the 4th quarter valued at approximately $261,000. Stifel Financial Corp lifted its stake in shares of Ellie Mae by 42.5% during the 3rd quarter. Stifel Financial Corp now owns 3,502 shares of the software maker’s stock valued at $288,000 after buying an additional 1,044 shares in the last quarter. Finally, Jefferies Group LLC purchased a new stake in shares of Ellie Mae during the 4th quarter valued at approximately $292,000.

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Ellie Mae Company Profile

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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