Ellie Mae (NYSE:ELLI) Share Price May Be About to Change Direction; Bank of America Downgrades Them

April 17, 2018 - By Vivian Currie

Ellie Mae, Inc. (NYSE:ELLI) Logo

Investors sentiment increased to 0.99 in 2017 Q4. Its up 0.05, from 0.94 in 2017Q3. It is positive, as 23 investors sold Ellie Mae, Inc. shares while 62 reduced holdings. 32 funds opened positions while 52 raised stakes. 37.95 million shares or 7.38% more from 35.35 million shares in 2017Q3 were reported.

Reilly Fincl Advsr Limited Liability Com has invested 0% in Ellie Mae, Inc. (NYSE:ELLI). Goldman Sachs Gru reported 48,965 shares or 0% of all its holdings. Assetmark Inc holds 0% of its portfolio in Ellie Mae, Inc. (NYSE:ELLI) for 40 shares. 186,905 were reported by Hermes Limited. Bnp Paribas Arbitrage reported 0% in Ellie Mae, Inc. (NYSE:ELLI). Scout Invests reported 115,502 shares. State Board Of Administration Of Florida Retirement System has 18,648 shares. California State Teachers Retirement Sys accumulated 53,383 shares or 0.01% of the stock. State Common Retirement Fund stated it has 549,931 shares. State Of Wisconsin Invest Board has invested 0.01% in Ellie Mae, Inc. (NYSE:ELLI). Group Incorporated One Trading L P reported 0% of its portfolio in Ellie Mae, Inc. (NYSE:ELLI). 469,794 are owned by Northern Corp. Amundi Pioneer Asset Mgmt accumulated 148,630 shares. Alliancebernstein Ltd Partnership has invested 0% in Ellie Mae, Inc. (NYSE:ELLI). The New York-based Bank Of Ny Mellon has invested 0% in Ellie Mae, Inc. (NYSE:ELLI).

Since October 20, 2017, it had 0 insider purchases, and 34 selling transactions for $10.61 million activity. Another trade for 531 shares valued at $48,776 was made by LaVay Matthew on Monday, April 2. 11,232 Ellie Mae, Inc. (NYSE:ELLI) shares with value of $1.00 million were sold by Corr Jonathan. TYRRELL JOSEPH P. sold $315,804 worth of Ellie Mae, Inc. (NYSE:ELLI) on Wednesday, February 21. 1,391 shares valued at $127,320 were sold by Anderman Sigmund on Wednesday, February 21. 5,666 Ellie Mae, Inc. (NYSE:ELLI) shares with value of $516,539 were sold by BUCCELLATO CARL. Another trade for 731 shares valued at $67,088 was sold by HIRSCH PETER.

Ellie Mae (NYSE:ELLI) Receives a Downgrade

Bank of America has given Ellie Mae (NYSE:ELLI) shares a new Neutral rating in a note published on Monday, 16 April. This was a decrease from the old Buy rating.

Investors sentiment increased to 0.99 in 2017 Q4. Its up 0.05, from 0.94 in 2017Q3. It is positive, as 23 investors sold Ellie Mae, Inc. shares while 62 reduced holdings. 32 funds opened positions while 52 raised stakes. 37.95 million shares or 7.38% more from 35.35 million shares in 2017Q3 were reported.

Reilly Fincl Advsr Limited Liability Com has invested 0% in Ellie Mae, Inc. (NYSE:ELLI). Goldman Sachs Gru reported 48,965 shares or 0% of all its holdings. Assetmark Inc holds 0% of its portfolio in Ellie Mae, Inc. (NYSE:ELLI) for 40 shares. 186,905 were reported by Hermes Limited. Bnp Paribas Arbitrage reported 0% in Ellie Mae, Inc. (NYSE:ELLI). Scout Invests reported 115,502 shares. State Board Of Administration Of Florida Retirement System has 18,648 shares. California State Teachers Retirement Sys accumulated 53,383 shares or 0.01% of the stock. State Common Retirement Fund stated it has 549,931 shares. State Of Wisconsin Invest Board has invested 0.01% in Ellie Mae, Inc. (NYSE:ELLI). Group Incorporated One Trading L P reported 0% of its portfolio in Ellie Mae, Inc. (NYSE:ELLI). 469,794 are owned by Northern Corp. Amundi Pioneer Asset Mgmt accumulated 148,630 shares. Alliancebernstein Ltd Partnership has invested 0% in Ellie Mae, Inc. (NYSE:ELLI). The New York-based Bank Of Ny Mellon has invested 0% in Ellie Mae, Inc. (NYSE:ELLI).

Since October 20, 2017, it had 0 insider purchases, and 34 selling transactions for $10.61 million activity. Another trade for 531 shares valued at $48,776 was made by LaVay Matthew on Monday, April 2. 11,232 Ellie Mae, Inc. (NYSE:ELLI) shares with value of $1.00 million were sold by Corr Jonathan. TYRRELL JOSEPH P. sold $315,804 worth of Ellie Mae, Inc. (NYSE:ELLI) on Wednesday, February 21. 1,391 shares valued at $127,320 were sold by Anderman Sigmund on Wednesday, February 21. 5,666 Ellie Mae, Inc. (NYSE:ELLI) shares with value of $516,539 were sold by BUCCELLATO CARL. Another trade for 731 shares valued at $67,088 was sold by HIRSCH PETER.

Ellie Mae, Inc. (NYSE:ELLI) Ratings Coverage

Among 9 analysts covering Ellie Mae (NYSE:ELLI), 4 have Buy rating, 2 Sell and 3 Hold. Therefore 44% are positive. Ellie Mae has $118 highest and $65 lowest target. $102.11’s average target is 15.20% above currents $88.64 stock price. Ellie Mae had 14 analyst reports since October 18, 2017 according to SRatingsIntel. As per Sunday, November 19, the company rating was maintained by KeyBanc Capital Markets. The company was maintained on Wednesday, January 31 by RBC Capital Markets. The stock of Ellie Mae, Inc. (NYSE:ELLI) has “Overweight” rating given on Monday, February 5 by KeyBanc Capital Markets. The firm has “Hold” rating given on Friday, February 9 by Stephens. The firm has “Neutral” rating by Bank of America given on Monday, April 16. As per Friday, October 27, the company rating was maintained by Barclays Capital. As per Thursday, April 12, the company rating was downgraded by Wedbush. The stock has “Buy” rating by Bank of America on Friday, February 9. The rating was maintained by Morgan Stanley with “Equal-Weight” on Tuesday, January 30. The stock of Ellie Mae, Inc. (NYSE:ELLI) earned “Outperform” rating by RBC Capital Markets on Wednesday, October 18.

The stock increased 1.65% or $1.44 during the last trading session, reaching $88.64. About 101,994 shares traded. Ellie Mae, Inc. (NYSE:ELLI) has declined 6.50% since April 17, 2017 and is downtrending. It has underperformed by 18.05% the S&P500.

Analysts await Ellie Mae, Inc. (NYSE:ELLI) to report earnings on April, 26. They expect $-0.11 EPS, down 466.67 % or $0.14 from last year’s $0.03 per share. After $0.17 actual EPS reported by Ellie Mae, Inc. for the previous quarter, Wall Street now forecasts -164.71 % negative EPS growth.

Ellie Mae, Inc. provides on-demand software solutions and services for the residential mortgage industry in the United States. The company has market cap of $3.04 billion. The firm provides Encompass, a proprietary software solution that combines loan origination and enterprise management software for mortgage originators into a system, as well as access to investors, lenders, and service providers on the Ellie Mae Network. It has a 59.89 P/E ratio. The Company’s Encompass solutions and services comprise Ellie Mae Total Quality Loan Program that offers fraud detection, valuation, validation, and risk analysis services; Encompass CenterWise, Encompass Compliance Service, and Encompass Docs Solution as integrated components; Encompass Docs Solution, a disclosure and closing document preparation solution; and Encompass Compliance Service to analyze mortgage loan data for compliance with consumer protection laws and institutionally mandated compliance policies.

Ellie Mae, Inc. (NYSE:ELLI) Institutional Positions Chart

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