Price Action to Note: Will Ellie Mae Inc Go Down Anytime Soon?

Price Action to Note: Will Ellie Mae Inc Go Down Anytime Soon?

The stock of Ellie Mae Inc (NYSE:ELLI) is a huge mover today! About 896,965 shares traded hands or 47.07% up from the average. Ellie Mae Inc (NYSE:ELLI) has declined 5.58% since April 13, 2016 and is downtrending. It has underperformed by 9.51% the S&P500.
The move comes after 5 months positive chart setup for the $2.63 billion company. It was reported on Nov, 15 by Barchart.com. We have $134.58 PT which if reached, will make NYSE:ELLI worth $1.50B more.

Ellie Mae Inc (NYSE:ELLI) Ratings Coverage

Out of 11 analysts covering Elli Mae (NYSE:ELLI), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Elli Mae has been the topic of 24 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Ellie Mae Inc (NYSE:ELLI) earned “Outperform” rating by Oppenheimer on Friday, July 31. Oppenheimer maintained the stock with “Outperform” rating in Thursday, October 29 report. Oppenheimer maintained Ellie Mae Inc (NYSE:ELLI) rating on Wednesday, March 9. Oppenheimer has “Outperform” rating and $92 price target. FBR Capital maintained it with “Mkt Perform” rating and $75 target price in Friday, February 12 report. The stock of Ellie Mae Inc (NYSE:ELLI) has “Equal-Weight” rating given on Friday, April 29 by Stephens. The rating was initiated by Pacific Crest on Tuesday, September 6 with “Overweight”. The firm earned “Outperform” rating on Friday, October 23 by RBC Capital Markets. The stock of Ellie Mae Inc (NYSE:ELLI) has “Outperform” rating given on Thursday, July 23 by RBC Capital Markets. On Friday, February 12 the stock rating was maintained by Barclays Capital with “Overweight”. The firm earned “Buy” rating on Friday, July 31 by Needham.

According to Zacks Investment Research, “Ellie Mae, Inc. operates electronic mortgage origination networks in the United States. The Company’s network and technology-enabled solutions help streamline and automate the mortgage origination process. Solutions offered by Ellie include Encompass software, a comprehensive operating system that handles key business and management functions involved in running a mortgage origination business, and serves as a gateway to the Ellie Mae Network. Through its solutions the Company also offers services like: automated preparation of the disclosure and closing documents; electronic document management and websites and electronic connectivity. Ellie Mae, Inc. is headquartered in Pleasanton, California.”

Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.03, from 1.07 in 2016Q1. The ratio fall, as 26 funds sold all Ellie Mae Inc shares owned while 69 reduced positions. 32 funds bought stakes while 67 increased positions. They now own 31.09 million shares or 5.73% more from 29.41 million shares in 2016Q1.
Coe Cap Ltd Llc last reported 24,210 shares in the company. Cetera Advisor Network Limited Liability holds 0.02% or 3,162 shares in its portfolio. Aqr Management Limited Liability owns 39,763 shares or 0.01% of their US portfolio. The Texas-based Dimensional Fund Advisors Ltd Partnership has invested 0.02% in Ellie Mae Inc (NYSE:ELLI). Geode Management Ltd Co accumulated 199,060 shares or 0.01% of the stock. Alliancebernstein Ltd Partnership has 52,720 shares for 0% of their US portfolio. Moreover, Blue Clay Capital Ltd Liability has 2.24% invested in Ellie Mae Inc (NYSE:ELLI) for 20,980 shares. Redwood Limited Company accumulated 0.44% or 52,333 shares. Mitsubishi Ufj Trust And Banking Corp accumulated 0.05% or 262,730 shares. Waddell And Reed Fincl has 0.12% invested in the company for 597,189 shares. Navellier & Assocs holds 10,484 shares or 0.14% of its portfolio. Summit Creek Limited Liability Corp owns 182,974 shares or 2.85% of their US portfolio. Lpl Fincl Limited Liability has invested 0% of its portfolio in Ellie Mae Inc (NYSE:ELLI). Wms Limited Com accumulated 0.07% or 5,500 shares. California Public Employees Retirement has 0.01% invested in the company for 61,100 shares.

Insider Transactions: Since May 16, 2016, the stock had 0 insider buys, and 25 sales for $19.80 million net activity. BROWN BRIAN E. had sold 355 shares worth $29,110. Corr Jonathan sold $295,228 worth of stock or 3,500 shares. $461,356 worth of Ellie Mae Inc (NYSE:ELLI) shares were sold by Luce Edgar. On Tuesday, August 9 Anderman Sigmund sold $5.32 million worth of the stock or 55,000 shares. SCHREINER GATES CATHLEEN sold 675 shares worth $62,293. DOLAN A BARR also sold $235,238 worth of Ellie Mae Inc (NYSE:ELLI) shares. TYRRELL JOSEPH P. sold $239,367 worth of stock.

More notable recent Ellie Mae Inc (NYSE:ELLI) news were published by: Foxbusiness.com which released: “Why Ellie Mae Inc Stock Fell 8.6% Today” on November 14, 2016, also Fool.com with their article: “Small Cap Low-Risk Pick No. 3: Ellie Mae Inc.” published on April 08, 2016, Profitconfidential.com published: “Ellie Mae Inc: Housing Recovery Could Be Big Boost for ELLI Stock” on July 30, 2016. More interesting news about Ellie Mae Inc (NYSE:ELLI) were released by: Investorplace.com and their article: “Best Stocks of 2016: Ellie Mae Inc (ELLI) Stock Leads the Charge” published on October 14, 2016 as well as Businesswire.com‘s news article titled: “Ellie Mae, Inc. Announces Pricing of Follow-on Offering of Common Stock” with publication date: August 01, 2016.

ELLI Company Profile

Ellie Mae, Inc. (Ellie Mae), incorporated on October 14, 2009, is a well-known provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.

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