Summit Partners Public Asset Management buys $13,011,600 stake in Ellie Mae Inc (ELLI)

Ellie Mae Inc (ELLI) : Summit Partners Public Asset Management scooped up 15,000 additional shares in Ellie Mae Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 140,000 shares of Ellie Mae Inc which is valued at $13,011,600.Ellie Mae Inc makes up approximately 5.18% of Summit Partners Public Asset Management’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in ELLI in the latest quarter, The investment management firm added 261,306 additional shares and now holds a total of 2,352,075 shares of Ellie Mae Inc which is valued at $199,761,730. Ellie Mae Inc makes up approx 0.01% of Vanguard Group Inc’s portfolio.Dymon Asia Capital Ltd reduced its stake in ELLI by selling 80,000 shares or 33.33% in the most recent quarter. The Hedge Fund company now holds 160,000 shares of ELLI which is valued at $15,291,200. Ellie Mae Inc makes up approx 17.20% of Dymon Asia Capital Ltd’s portfolio.Victory Capital Management Inc boosted its stake in ELLI in the latest quarter, The investment management firm added 125,499 additional shares and now holds a total of 126,132 shares of Ellie Mae Inc which is valued at $12,764,558. Ellie Mae Inc makes up approx 0.04% of Victory Capital Management Inc’s portfolio. Td Asset Management Inc added ELLI to its portfolio by purchasing 7,682 company shares during the most recent quarter which is valued at $786,560.Huntington National Bank reduced its stake in ELLI by selling 145 shares or 15.63% in the most recent quarter. The Hedge Fund company now holds 783 shares of ELLI which is valued at $81,925.

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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