Next Century Growth Investors Lowers stake in Ellie Mae Inc (ELLI)

Ellie Mae Inc (ELLI) : Next Century Growth Investors reduced its stake in Ellie Mae Inc by 6.99% during the most recent quarter end. The investment management company now holds a total of 549,742 shares of Ellie Mae Inc which is valued at $46,689,588 after selling 41,290 shares in Ellie Mae Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Ellie Mae Inc makes up approximately 2.20% of Next Century Growth Investors’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank sold out all of its stake in ELLI during the most recent quarter. The investment firm sold 3,114 shares of ELLI which is valued $264,472.New York State Common Retirement Fund boosted its stake in ELLI in the latest quarter, The investment management firm added 68,551 additional shares and now holds a total of 485,745 shares of Ellie Mae Inc which is valued at $51,095,517. Ellie Mae Inc makes up approx 0.08% of New York State Common Retirement Fund’s portfolio.Blackrock Fund Advisors boosted its stake in ELLI in the latest quarter, The investment management firm added 154,219 additional shares and now holds a total of 918,644 shares of Ellie Mae Inc which is valued at $96,632,162. Ellie Mae Inc makes up approx 0.02% of Blackrock Fund Advisors’s portfolio. Global X Management Co added ELLI to its portfolio by purchasing 706 company shares during the most recent quarter which is valued at $72,902.

Ellie Mae Inc opened for trading at $81.73 and hit $83.05 on the upside on Monday, eventually ending the session at $82.26, with a gain of 0.62% or 0.51 points. The heightened volatility saw the trading volume jump to 15,05,495 shares. Company has a market cap of $2,761 M.

On the company’s financial health, Ellie Mae Inc reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.59. The company had revenue of $100.38 million for the quarter, compared to analysts expectations of $92.50 million. The company’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Ellie Mae Inc. Shares were Downgraded by RBC Capital Mkts on Nov 17, 2016 to ” Sector Perform” and Lowered the Price Target to $ 90 from a previous price target of $114 .Ellie Mae Inc was Initiated by JP Morgan to “Overweight” on Sep 9, 2016.

Ellie Mae Inc. (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass mortgage management solution provides one system of record that allows banks credit unions and mortgage lenders to originate and fund mortgages. The Encompass mortgage management solution handles functions involved in running the business of originating mortgages including customer relationship management; loan processing; underwriting; preparation of application disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements and overall enterprise management that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network.

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